Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.2% in the third quarter, Holdings Channel.com reports. The fund owned 6,696 shares of the financial services provider’s stock after purchasing an additional 147 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Prudential Financial were worth $811,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC raised its position in Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory acquired a new position in Prudential Financial during the 2nd quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new position in Prudential Financial during the 3rd quarter valued at about $31,000. Crewe Advisors LLC acquired a new position in Prudential Financial in the 1st quarter valued at about $33,000. Finally, ESL Trust Services LLC purchased a new stake in Prudential Financial during the first quarter worth about $34,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PRU. Piper Sandler lifted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. UBS Group increased their price objective on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Wells Fargo & Company upped their price target on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Bank of America lifted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $123.85.

Prudential Financial Trading Up 0.4 %

Shares of Prudential Financial stock opened at $125.49 on Wednesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $121.55 and a 200-day simple moving average of $118.91. The stock has a market cap of $44.67 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 0.89 and a beta of 1.29. Prudential Financial, Inc. has a 12-month low of $91.07 and a 12-month high of $129.13.

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, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter last year, the company posted $3.44 earnings per share. On average, equities analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend 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.