First Horizon Advisors Inc. Has $19.70 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

First Horizon Advisors Inc. grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,685 shares of the financial services provider’s stock after acquiring an additional 6,641 shares during the quarter. First Horizon Advisors Inc.’s holdings in Prudential Financial were worth $19,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PRU. Seven Eight Capital LP acquired a new position in shares of Prudential Financial during the first quarter valued at about $300,000. Lake Street Advisors Group LLC boosted its stake in Prudential Financial by 33.4% during the first quarter. Lake Street Advisors Group LLC now owns 3,711 shares of the financial services provider’s stock worth $436,000 after buying an additional 929 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after buying an additional 71,274 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Prudential Financial during the 1st quarter worth about $33,000. Finally, Fayez Sarofim & Co bought a new stake in Prudential Financial in the first quarter valued at about $258,000. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

Prudential Financial Price Performance

PRU opened at $124.61 on Wednesday. Prudential Financial, Inc. has a 12 month low of $93.32 and a 12 month high of $129.13. The company has a fifty day simple moving average of $122.67 and a 200 day simple moving average of $119.53. The stock has a market cap of $44.36 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.91 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the firm earned $3.44 EPS. On average, research analysts expect that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Wall Street Analysts Forecast Growth

PRU has been the subject of several recent analyst reports. UBS Group increased their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price objective for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Morgan Stanley reduced their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Wells Fargo & Company upped their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Barclays lifted their price objective on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $125.69.

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.