Norwood Financial Corp Purchases 290 Shares of Prudential Financial, Inc. (NYSE:PRU)

Norwood Financial Corp raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 580.0% during the first quarter, HoldingsChannel.com reports. The fund owned 340 shares of the financial services provider’s stock after buying an additional 290 shares during the quarter. Norwood Financial Corp’s holdings in Prudential Financial were worth $40,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PRU. Vanguard Group Inc. grew its stake in Prudential Financial by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after purchasing an additional 5,154,865 shares during the period. Morgan Stanley increased its stake in shares of Prudential Financial by 0.9% in the 3rd quarter. Morgan Stanley now owns 6,317,338 shares of the financial services provider’s stock valued at $599,452,000 after acquiring an additional 57,531 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 acquiring an additional 388,363 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Prudential Financial by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,346,612 shares of the financial services provider’s stock worth $243,367,000 after acquiring an additional 72,696 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Prudential Financial by 9,281.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after purchasing an additional 1,354,248 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PRU shares. Evercore ISI raised their price target 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. Morgan Stanley raised their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Piper Sandler reduced their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Keefe, Bruyette & Woods raised their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Jefferies Financial Group reduced their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $115.08.

Prudential Financial Stock Down 0.1 %

Shares of NYSE PRU traded down $0.14 during mid-day trading on Friday, reaching $117.19. 2,228,255 shares of the company’s stock traded hands, compared to its average volume of 1,485,373. Prudential Financial, Inc. has a 1-year low of $86.69 and a 1-year high of $121.39. The stock has a market cap of $42.07 billion, a P/E ratio of 19.93, a PEG ratio of 0.88 and a beta of 1.35. The business has a 50-day simple moving average of $116.38 and a 200 day simple moving average of $110.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last released its quarterly 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). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same quarter last year, the firm posted $2.66 earnings per share. The firm’s revenue for the quarter was up 69.9% compared to the same quarter last year. On average, analysts expect that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the acquisition, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the stock in a transaction on Thursday, June 20th. The shares were acquired at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the transaction, the insider now 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 hyperlink. Also, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction dated 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 directly owns 202,083 shares in the company, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.