Abundance Wealth Counselors Acquires 280 Shares of Prudential Financial, Inc. (NYSE:PRU)

Abundance Wealth Counselors lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,073 shares of the financial services provider’s stock after buying an additional 280 shares during the quarter. Abundance Wealth Counselors’ holdings in Prudential Financial were worth $2,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PRU. Grove Bank & Trust raised its holdings in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial during the 3rd quarter valued at $31,000. Quarry LP raised its stake 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 worth $34,000 after purchasing an additional 222 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Prudential Financial during the fourth quarter valued at $37,000. Finally, Tompkins Financial Corp increased its holdings in Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after buying an additional 140 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU stock opened at $120.52 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $42.91 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.13 and a beta of 1.31. The company’s 50-day simple moving average is $120.80 and its two-hundred day simple moving average is $120.64. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analysts’ expectations 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 prior year, the business earned $3.44 EPS. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 13.24 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were issued a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.31%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of Prudential Financial from $127.00 to $128.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Bank of America increased their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. 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 note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $125.31.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

About Prudential Financial

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.