TrueWealth Advisors LLC Acquires 426 Shares of Prudential Financial, Inc. (NYSE:PRU)

TrueWealth Advisors LLC increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 10.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,586 shares of the financial services provider’s stock after acquiring an additional 426 shares during the quarter. TrueWealth Advisors LLC’s holdings in Prudential Financial were worth $544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Edgestream Partners L.P. acquired a new position in shares of Prudential Financial during the second quarter worth approximately $258,000. Mercer Global Advisors Inc. ADV raised its holdings in Prudential Financial by 0.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 34,074 shares of the financial services provider’s stock worth $3,993,000 after buying an additional 291 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of Prudential Financial by 148.4% in the second quarter. Blair William & Co. IL now owns 26,585 shares of the financial services provider’s stock valued at $3,116,000 after buying an additional 15,884 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Prudential Financial by 70.8% during the second quarter. Intech Investment Management LLC now owns 17,570 shares of the financial services provider’s stock worth $2,059,000 after acquiring an additional 7,281 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in Prudential Financial by 3.0% in the 2nd quarter. Brighton Jones LLC now owns 3,536 shares of the financial services provider’s stock valued at $414,000 after acquiring an additional 103 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now 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 legal filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PRU. Bank of America increased their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. TD Cowen boosted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Wells Fargo & Company cut 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 report on Tuesday. Finally, Barclays decreased their price objective on shares of Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating for the company in a report on Friday. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average target price of $127.25.

Prudential Financial Trading Up 0.5 %

Shares of PRU opened at $118.98 on Friday. The business’s 50-day moving average price is $122.12 and its 200-day moving average price is $120.65. 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, Inc. has a twelve month low of $100.60 and a twelve month high of $130.55. The stock has a market cap of $42.36 billion, a PE ratio of 10.58, a P/E/G ratio of 0.75 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS 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 previous year, the business earned $3.44 earnings per share. On average, equities analysts forecast that Prudential Financial, Inc. will post 13.34 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is currently 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.