Prudential Financial, Inc. (NYSE:PRU) EVP Purchases $14,578.29 in Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney bought 129 shares of Prudential Financial stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of $113.01 per share, with a total value of $14,578.29. Following the completion of the acquisition, the executive vice president now owns 10,429 shares in the company, valued at approximately $1,178,581.29. The trade was a 1.25 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Prudential Financial Trading Down 0.4 %

PRU opened at $110.35 on Friday. Prudential Financial, Inc. has a fifty-two week low of $104.45 and a fifty-two week high of $130.55. The company has a market cap of $39.51 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. 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 firm has a 50 day simple moving average of $113.57 and a 200 day simple moving average of $119.05.

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 the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost 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 4.89%. Prudential Financial’s dividend payout ratio is 72.29%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PRU shares. Piper Sandler lowered their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Barclays increased their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $126.15.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Prudential Financial in the 4th quarter valued at $115,878,000. Northern Trust Corp lifted its holdings in shares of Prudential Financial by 23.7% during the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock valued at $555,513,000 after purchasing an additional 897,916 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Prudential Financial by 176.8% in the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after purchasing an additional 665,180 shares during the period. Raymond James Financial Inc. bought a new stake in Prudential Financial during the 4th quarter worth approximately $76,303,000. Finally, Marshall Wace LLP lifted its stake in Prudential Financial by 322.9% in the fourth quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider’s stock valued at $84,287,000 after buying an additional 542,964 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

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.