Pineridge Advisors LLC Acquires New Holdings in Prudential Financial, Inc. (NYSE:PRU)

Pineridge Advisors LLC bought a new stake in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 346 shares of the financial services provider’s stock, valued at approximately $36,000.

Several other large investors have also recently bought and sold shares of the stock. First Financial Corp IN lifted its holdings in shares of Prudential Financial by 13.7% in the fourth quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock valued at $88,000 after buying an additional 102 shares during the period. McIlrath & Eck LLC boosted its position in shares of Prudential Financial by 18.0% during the 4th quarter. McIlrath & Eck LLC now owns 670 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 102 shares in the last quarter. Cambridge Trust Co. grew its stake in shares of Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 105 shares during the last quarter. Mechanics Financial Corp raised its holdings in shares of Prudential Financial by 6.3% in the 4th quarter. Mechanics Financial Corp now owns 1,771 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 105 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Prudential Financial by 0.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 37,935 shares of the financial services provider’s stock valued at $3,934,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.8 %

Shares of Prudential Financial stock traded down $0.86 on Friday, hitting $113.11. 1,065,223 shares of the company traded hands, compared to its average volume of 1,290,051. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a 12-month low of $83.34 and a 12-month high of $121.39. The company has a 50-day moving average price of $115.09 and a 200 day moving average price of $109.65. The company has a market cap of $40.61 billion, a PE ratio of 19.24, a PEG ratio of 0.85 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.04). The firm had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business’s revenue for the quarter was up 69.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.66 earnings per share. Sell-side analysts predict that Prudential Financial, Inc. will post 13.41 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PRU shares. Jefferies Financial Group raised Prudential Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $121.00 to $143.00 in a report on Wednesday, May 22nd. Keefe, Bruyette & Woods upped their target price on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley boosted their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Evercore ISI raised their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company boosted their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $115.25.

Insider Transactions at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the sale, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the sale, the executive vice president now owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial 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.