Prudential Financial, Inc. (NYSE:PRU) Stake Raised by Golden State Equity Partners

Golden State Equity Partners grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1,845.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,868 shares of the financial services provider’s stock after buying an additional 1,772 shares during the period. Golden State Equity Partners’ holdings in Prudential Financial were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Journey Strategic Wealth LLC raised its holdings in shares of Prudential Financial by 73.8% during the fourth quarter. Journey Strategic Wealth LLC now owns 6,733 shares of the financial services provider’s stock valued at $798,000 after buying an additional 2,859 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Prudential Financial by 6.8% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,365 shares of the financial services provider’s stock valued at $1,229,000 after acquiring an additional 662 shares during the period. Abundance Wealth Counselors increased its stake in shares of Prudential Financial by 1.7% during the fourth quarter. Abundance Wealth Counselors now owns 17,073 shares of the financial services provider’s stock valued at $2,024,000 after acquiring an additional 280 shares during the period. Everett Harris & Co. CA acquired a new position in shares of Prudential Financial during the fourth quarter valued at approximately $314,000. Finally, Oxler Private Wealth LLC increased its stake in shares of Prudential Financial by 1.1% during the fourth quarter. Oxler Private Wealth LLC now owns 11,088 shares of the financial services provider’s stock valued at $1,314,000 after acquiring an additional 117 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.8 %

Prudential Financial stock opened at $117.91 on Wednesday. The company has a 50 day moving average price of $120.61 and a 200 day moving average price of $120.50. The firm has a market capitalization of $41.97 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 1.12 and a beta of 1.31. Prudential Financial, Inc. has a 52 week low of $101.72 and a 52 week high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. Research analysts forecast that Prudential Financial, Inc. will post 13.24 EPS for the current year.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PRU. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Piper Sandler lowered 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 note on Thursday, January 16th. Bank of America raised their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. TD Cowen raised their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company decreased their price target on shares of 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 research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $125.31.

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.