Darwin Wealth Management LLC Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Darwin Wealth Management LLC bought a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 392 shares of the financial services provider’s stock, valued at approximately $48,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PRU. First Horizon Advisors Inc. grew its position in Prudential Financial by 4.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock worth $19,701,000 after purchasing an additional 6,641 shares during the last quarter. Commerce Bank boosted its stake in Prudential Financial by 7.1% during the third quarter. Commerce Bank now owns 16,770 shares of the financial services provider’s stock valued at $2,031,000 after buying an additional 1,114 shares in the last quarter. Strategy Asset Managers LLC acquired a new position in shares of Prudential Financial in the 3rd quarter worth approximately $588,000. Avior Wealth Management LLC grew its position in Prudential Financial by 1.3% in the third quarter. Avior Wealth Management LLC now owns 8,126 shares of the financial services provider’s stock worth $984,000 after buying an additional 103 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Prudential Financial by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 116,069 shares of the financial services provider’s stock valued at $14,056,000 after purchasing an additional 1,286 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PRU. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $125.69.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This represents a 6.61 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

Prudential Financial stock opened at $126.26 on Friday. The company’s 50-day moving average is $123.06 and its two-hundred day moving average is $119.61. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 1 year low of $93.99 and a 1 year high of $129.13. The company has a market cap of $44.95 billion, a PE ratio of 11.22, a PEG ratio of 0.89 and a beta of 1.29.

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

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.12%. Prudential Financial’s dividend payout ratio is presently 46.22%.

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.