Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 288.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,065 shares of the financial services provider’s stock after purchasing an additional 1,534 shares during the period. Venturi Wealth Management LLC’s holdings in Prudential Financial were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Grove Bank & Trust lifted its holdings in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial in the 3rd quarter valued at about $31,000. CGC Financial Services LLC raised its holdings in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 124 shares during the period. Wingate Wealth Advisors Inc. acquired a new position in Prudential Financial in the 4th quarter worth about $33,000. Finally, Quarry LP raised its holdings in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PRU shares. BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Barclays upped their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Jefferies Financial Group upped their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Finally, TD Cowen boosted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $125.69.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

PRU stock opened at $109.45 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The business has a 50 day simple moving average of $116.88 and a 200-day simple moving average of $119.62. The firm has a market capitalization of $39.18 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly 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 4.01% and a return on equity of 15.86%. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.34 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a $1.35 dividend. The ex-dividend date is Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.93%. Prudential Financial’s dividend payout ratio is 72.29%.

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.