Fiduciary Alliance LLC Invests $236,000 in Prudential Financial, Inc. (NYSE:PRU)

Fiduciary Alliance LLC acquired a new position in Prudential Financial, Inc. (NYSE:PRU) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,949 shares of the financial services provider’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cullinan Associates Inc. increased its stake in shares of Prudential Financial by 2,355.0% in the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after purchasing an additional 145,423 shares in the last quarter. National Bank of Canada FI increased its stake in Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after buying an additional 71,274 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Prudential Financial in the 4th quarter worth $761,000. Brookstone Capital Management increased its stake in Prudential Financial by 1,635.0% in the 1st quarter. Brookstone Capital Management now owns 87,201 shares of the financial services provider’s stock worth $10,237,000 after buying an additional 82,175 shares in the last quarter. Finally, ORG Partners LLC purchased a new stake in Prudential Financial in the 2nd quarter worth $156,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 1.2 %

Shares of NYSE:PRU opened at $125.17 on Tuesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52. The company has a 50-day moving average price of $117.33 and a 200 day moving average price of $117.21. The company has a market cap of $44.94 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. As a group, equities research analysts predict that Prudential Financial, Inc. will post 13.28 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s payout ratio is currently 88.44%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PRU. Wells Fargo & Company increased their price target on Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. TD Cowen began coverage on Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective for the company. Piper Sandler raised their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $123.69.

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.