Prudential Financial, Inc. (NYSE:PRU) Stock Position Boosted by Valley National Advisers Inc.

Valley National Advisers Inc. grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 69.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 997 shares of the financial services provider’s stock after buying an additional 409 shares during the quarter. Valley National Advisers Inc.’s holdings in Prudential Financial were worth $118,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Grove Bank & Trust lifted its position in Prudential Financial by 65.9% in the fourth 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 period. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial in the third quarter valued at $31,000. Quarry LP boosted its stake in Prudential Financial by 376.3% during 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 position in Prudential Financial during the fourth quarter worth about $37,000. Finally, Tompkins Financial Corp raised its position in Prudential Financial by 61.7% in the third 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 Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Prudential Financial Trading Down 1.1 %

Shares of NYSE:PRU opened at $120.52 on Monday. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $42.91 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The firm has a fifty day moving average of $120.80 and a two-hundred day moving average of $120.60.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.31%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Piper Sandler lowered their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Bank of America upped their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company reduced their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. 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. Finally, BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $125.31.

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.