Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Austin Private Wealth LLC

Austin Private Wealth LLC raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,689 shares of the financial services provider’s stock after purchasing an additional 237 shares during the quarter. Austin Private Wealth LLC’s holdings in Prudential Financial were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after acquiring an additional 5,154,865 shares in the last quarter. International Assets Investment Management LLC boosted its position in Prudential Financial by 9,281.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock valued at $141,962,000 after purchasing an additional 1,354,248 shares during the period. Norges Bank acquired a new position in Prudential Financial during the 4th quarter valued at approximately $113,478,000. Dimensional Fund Advisors LP boosted its position in Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after purchasing an additional 388,363 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Prudential Financial during the 3rd quarter valued at approximately $34,251,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Evercore ISI lifted their target price on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Piper Sandler cut their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Wells Fargo & Company lifted their target price on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Jefferies Financial Group raised Prudential Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $121.00 to $143.00 in a research note on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $115.25.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the acquisition, the insider now directly owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other 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 value of $604,933.62. Following the sale, the senior vice president now directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the stock in a transaction dated Thursday, June 20th. The stock was bought at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the purchase, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Up 1.2 %

Shares of PRU stock traded up $1.43 on Monday, reaching $119.16. 1,437,301 shares of the company’s stock traded hands, compared to its average volume of 1,488,071. Prudential Financial, Inc. has a 12-month low of $84.02 and a 12-month high of $121.39. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $42.78 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The business’s 50 day moving average price is $115.65 and its two-hundred day moving average price is $110.52.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same quarter in the prior year, the firm posted $2.66 EPS. The business’s quarterly revenue was up 69.9% compared to the same quarter last year. On average, equities analysts forecast that Prudential Financial, Inc. will post 13.41 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date was Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.36%. Prudential Financial’s dividend payout ratio is presently 88.44%.

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.