YANKCOM Partnership Invests $805,000 in Prudential Financial, Inc. (NYSE:PRU)

YANKCOM Partnership acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,793 shares of the financial services provider’s stock, valued at approximately $805,000.

A number of other institutional investors also recently bought and sold shares of PRU. 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 stake in Prudential Financial during the 3rd quarter valued at $31,000. CGC Financial Services LLC raised its holdings in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares during the last quarter. Quarry LP lifted its position in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 222 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in Prudential Financial during the 4th quarter worth about $37,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Prudential Financial stock opened at $113.90 on Thursday. 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, Inc. has a one year low of $102.67 and a one year high of $130.55. The stock’s 50 day moving average price is $120.38 and its 200 day moving average price is $120.46. The firm has a market capitalization of $40.55 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a $1.35 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.74%. Prudential Financial’s payout ratio is 46.22%.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of recent research reports. Barclays upped their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday. Wells Fargo & Company reduced their price target on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. TD Cowen upped their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Jefferies Financial Group raised their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $125.77.

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.