Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by KWB Wealth

KWB Wealth boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 37.8% in the 4th quarter, Holdings Channel reports. The firm owned 4,623 shares of the financial services provider’s stock after purchasing an additional 1,267 shares during the period. KWB Wealth’s holdings in Prudential Financial were worth $560,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial in the 3rd quarter valued at approximately $31,000. Quarry LP increased its holdings in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. 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 valued at $44,000 after purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in Prudential Financial by 235.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 266 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in Prudential Financial in the 3rd quarter valued at approximately $48,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on PRU shares. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Barclays lifted their price objective on shares of Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Bank of America boosted their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Piper Sandler boosted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Eleven analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $127.00.

Prudential Financial Trading Up 1.2 %

Shares of Prudential Financial stock opened at $117.66 on Wednesday. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company’s 50-day simple moving average is $122.38 and its 200-day simple moving average is $120.67. The firm has a market cap of $41.89 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the business posted $3.44 earnings per share. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.42%. Prudential Financial’s payout ratio is currently 46.22%.

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.