Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 72.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,403 shares of the financial services provider’s stock after purchasing an additional 3,543 shares during the period. CreativeOne Wealth LLC’s holdings in Prudential Financial were worth $986,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PRU. Vanguard Group Inc. increased 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 valued at $4,386,192,000 after acquiring an additional 5,154,865 shares during the period. International Assets Investment Management LLC boosted 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 valued at $141,962,000 after purchasing an additional 1,354,248 shares during the last quarter. Norges Bank purchased a new stake in Prudential Financial in the fourth quarter valued at $113,478,000. Dimensional Fund Advisors LP boosted its holdings in Prudential Financial by 10.8% in the fourth 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 last quarter. Finally, abrdn plc boosted its holdings in Prudential Financial by 37.5% in the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock valued at $114,829,000 after purchasing an additional 302,164 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRU has been the topic of several recent research reports. Evercore ISI upped their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Citigroup increased their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Financial Group decreased their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Keefe, Bruyette & Woods raised their price target on shares of Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Finally, Piper Sandler decreased their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average price target of $116.92.

Prudential Financial Trading Up 0.9 %

Shares of NYSE PRU traded up $1.05 during midday trading on Friday, reaching $124.14. 1,315,951 shares of the stock were exchanged, compared to its average volume of 1,193,196. The company has a 50 day simple moving average of $119.20 and a 200 day simple moving average of $113.39. The stock has a market capitalization of $44.57 billion, a P/E ratio of 21.11, a PEG ratio of 0.96 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52.

Prudential Financial (NYSE:PRU) last posted 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). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. During the same quarter last year, the business posted $2.66 EPS. The firm’s revenue for the quarter was up 69.9% on a year-over-year basis. As a group, equities analysts expect that Prudential Financial, Inc. will post 13.38 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were issued a $1.30 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $5.20 annualized dividend and a yield of 4.19%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the acquisition, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was acquired 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 directly owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The purchase was disclosed in a filing with the SEC, which is available through this link. 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 transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

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.