Prudential Financial, Inc. (NYSE:PRU) Shares Bought by RFG Advisory LLC

RFG Advisory LLC increased its position in Prudential Financial, Inc. (NYSE:PRU) by 16.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,489 shares of the financial services provider’s stock after buying an additional 1,488 shares during the quarter. RFG Advisory LLC’s holdings in Prudential Financial were worth $1,243,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PRU. Grove Bank & Trust grew its stake in shares of 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 purchasing an additional 87 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Prudential Financial in the third quarter worth approximately $31,000. Quarry LP increased its holdings in shares of 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 in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Prudential Financial during the 4th quarter valued at $37,000. Finally, 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. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential bought 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 transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PRU shares. Jefferies Financial Group upped 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. Barclays raised their target price on shares of Prudential Financial from $127.00 to $128.00 and gave the stock an “equal weight” rating in a report on Thursday. Piper Sandler cut their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets started coverage on shares of Prudential Financial in a research note on Thursday. They issued an “underperform” rating and a $101.00 price objective for the company. Finally, Wells Fargo & Company cut their target price 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. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $125.31.

Prudential Financial Stock Up 0.3 %

PRU stock opened at $117.22 on Friday. The firm has a market cap of $41.73 billion, a PE ratio of 10.42, a PEG ratio of 1.09 and a beta of 1.31. Prudential Financial, Inc. has a 1 year low of $100.60 and a 1 year high of $130.55. The company has a fifty day simple moving average of $121.29 and a 200 day simple moving average of $120.66. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the firm earned $3.44 earnings per share. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend 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.