Stonebridge Financial Group LLC Buys Shares of 2,003 Prudential Financial, Inc. (NYSE:PRU)

Stonebridge Financial Group LLC purchased a new position in Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,003 shares of the financial services provider’s stock, valued at approximately $237,000.

A number of other large investors also recently modified their holdings of the company. Savant Capital LLC lifted its stake in Prudential Financial by 0.6% in 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 in the last quarter. Grove Bank & Trust boosted its stake in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Avidian Wealth Enterprises LLC grew its position in Prudential Financial by 1.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after buying an additional 89 shares in the last quarter. Asset Dedication LLC increased its stake in Prudential Financial by 28.4% in 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 last quarter. Finally, RNC Capital Management LLC raised its holdings 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 acquiring an additional 95 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction that occurred on 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 completion of 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by insiders.

Prudential Financial Price Performance

PRU opened at $111.68 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. Prudential Financial, Inc. has a 1 year low of $104.02 and a 1 year high of $130.55. The stock’s 50 day simple moving average is $119.08 and its 200 day simple moving average is $120.16. The firm has a market cap of $39.76 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, analysts predict that Prudential Financial, Inc. will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is currently 69.61%.

Wall Street Analyst Weigh In

PRU has been the topic of several research analyst reports. Piper Sandler decreased 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 report on Thursday, January 16th. BMO Capital Markets started coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. TD Cowen lifted their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company reduced their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.77.

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.