Prudential Financial, Inc. (NYSE:PRU) Stock Holdings Boosted by Brookstone Capital Management

Brookstone Capital Management raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,943 shares of the financial services provider’s stock after purchasing an additional 3,721 shares during the quarter. Brookstone Capital Management’s holdings in Prudential Financial were worth $10,661,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial during the 3rd quarter worth $31,000. Quarry LP boosted its stake in shares of Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares in the last quarter. Tompkins Financial Corp boosted its stake in shares of Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 140 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Prudential Financial by 235.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 266 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Prudential Financial during the 3rd quarter worth $48,000. 56.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRU has been the subject of several research reports. Barclays raised their price objective on Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Jefferies Financial Group increased their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler increased their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. TD Cowen increased their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company increased their target price on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $127.17.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 1.7 %

Prudential Financial stock opened at $116.47 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $41.46 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.87 and a beta of 1.31. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55. The company’s fifty day moving average price is $122.43 and its two-hundred day moving average price is $120.66.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the prior year, the business posted $3.44 earnings per share. On average, analysts forecast that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.