CX Institutional Increases Holdings in Prudential Financial, Inc. (NYSE:PRU)

CX Institutional lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 32.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,724 shares of the financial services provider’s stock after buying an additional 10,751 shares during the period. CX Institutional’s holdings in Prudential Financial were worth $5,183,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Grove Bank & Trust lifted its holdings in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial in the 3rd quarter valued at approximately $31,000. Quarry LP increased its holdings in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after buying an additional 222 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at about $37,000. Finally, Tompkins Financial Corp grew its position 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 valued at $44,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PRU shares. Piper Sandler reduced their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Bank of America increased their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company dropped their price target on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. TD Cowen lifted their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus target price of $125.31.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $117.75 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market cap of $41.92 billion, a PE ratio of 10.45, a PEG ratio of 1.09 and a beta of 1.31. Prudential Financial, Inc. has a twelve month low of $100.60 and a twelve month high of $130.55. The firm’s 50 day moving average price is $121.68 and its 200 day moving average price is $120.69.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period last year, the company earned $3.44 earnings per share. As a group, research analysts expect that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.42%. Prudential Financial’s payout ratio is presently 46.22%.

Prudential Financial Company Profile

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.