Great Valley Advisor Group Inc. Has $940,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Great Valley Advisor Group Inc. lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 7.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,766 shares of the financial services provider’s stock after buying an additional 559 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Prudential Financial were worth $940,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its position in shares of Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after purchasing an additional 305,143 shares in the last quarter. abrdn plc lifted its holdings in Prudential Financial by 4.0% during the 3rd quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock worth $158,120,000 after buying an additional 50,026 shares in the last quarter. International Assets Investment Management LLC boosted its position in Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after buying an additional 1,267,571 shares during the last quarter. AustralianSuper Pty Ltd raised its position in shares of Prudential Financial by 2.3% during the third quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider’s stock worth $153,312,000 after acquiring an additional 28,459 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Prudential Financial by 0.3% in the third quarter. Swiss National Bank now owns 1,065,600 shares of the financial services provider’s stock valued at $129,044,000 after acquiring an additional 2,700 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the business’s 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 transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Prudential Financial Trading Up 0.6 %

NYSE PRU opened at $128.72 on Tuesday. Prudential Financial, Inc. has a one year low of $94.92 and a one year high of $129.69. 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 firm has a market cap of $45.82 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.91 and a beta of 1.29. The stock’s 50-day moving average is $123.52 and its 200-day moving average is $119.82.

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. 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 analysts’ expectations of $14.57 billion. During the same period in the previous year, the firm posted $3.44 EPS. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.04%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PRU shares. Argus raised Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Piper Sandler lifted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Barclays increased their price target on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Bank of America lifted their price objective on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Eleven equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $125.69.

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.