Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Blair William & Co. IL

Blair William & Co. IL increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,286 shares of the financial services provider’s stock after acquiring an additional 457 shares during the quarter. Blair William & Co. IL’s holdings in Prudential Financial were worth $3,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRU. Savant Capital LLC grew its position in Prudential Financial by 0.6% during the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after purchasing an additional 83 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the last quarter. HBK Sorce Advisory LLC increased its position in Prudential Financial by 1.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock valued at $1,116,000 after acquiring an additional 91 shares during the period. Asset Dedication LLC lifted its position in Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 93 shares during the period. Finally, RNC Capital Management LLC grew its stake in shares of Prudential Financial by 3.3% in the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PRU. Jefferies Financial Group increased their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley lowered their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company increased their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Barclays lifted their price objective on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Finally, Piper Sandler reduced their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $126.15.

Insiders Place Their Bets

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the acquisition, the insider now directly owns 139,987 shares in the company, valued at $3,992,429.24. The trade was a 60.18 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Trading Up 1.5 %

Shares of PRU stock opened at $111.77 on Tuesday. The stock has a market cap of $40.01 billion, a P/E ratio of 14.96, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a fifty-two week low of $104.45 and a fifty-two week high of $130.55. The business has a fifty day simple moving average of $112.95 and a 200-day simple moving average of $118.95.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is 72.29%.

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.