Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by TFG Advisers LLC

TFG Advisers LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.4% during the fourth quarter, Holdings Channel reports. The firm owned 16,215 shares of the financial services provider’s stock after purchasing an additional 374 shares during the period. TFG Advisers LLC’s holdings in Prudential Financial were worth $1,922,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Grove Bank & Trust boosted its holdings in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its stake in shares of Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 89 shares in the last quarter. Asset Dedication LLC increased its position in Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 93 shares in the last quarter. RNC Capital Management LLC raised its holdings in Prudential Financial by 3.3% in the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock valued at $354,000 after buying an additional 95 shares during the period. Finally, UMB Bank n.a. grew its stake in Prudential Financial by 2.7% during the third quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock worth $443,000 after buying an additional 97 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRU has been the topic of several recent research reports. Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets initiated coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. Jefferies Financial Group raised their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a report on Thursday, January 16th. Finally, Evercore ISI upgraded shares of 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 note on Thursday, November 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $125.77.

Prudential Financial Price Performance

Shares of PRU stock opened at $112.80 on Friday. The firm has a market cap of $40.16 billion, a P/E ratio of 15.10, a P/E/G ratio of 1.00 and a beta of 1.31. The firm has a fifty day moving average of $119.75 and a two-hundred day moving average of $120.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. Prudential Financial, Inc. has a 1-year low of $104.02 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, research analysts anticipate that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.79%. Prudential Financial’s payout ratio is presently 69.61%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by corporate insiders.

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.