Principal Securities Inc. Purchases 770 Shares of Prudential Financial, Inc. (NYSE:PRU)

Principal Securities Inc. raised its position in Prudential Financial, Inc. (NYSE:PRU) by 5.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 14,593 shares of the financial services provider’s stock after acquiring an additional 770 shares during the period. Principal Securities Inc.’s holdings in Prudential Financial were worth $1,730,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Grove Bank & Trust grew its position in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial in the third quarter valued at $31,000. CGC Financial Services LLC increased its position in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial in the 4th quarter worth about $33,000. Finally, Quarry LP lifted its position 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 acquiring an additional 222 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU opened at $111.71 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. The firm has a market cap of $39.77 billion, a PE ratio of 14.95, a PEG ratio of 1.00 and a beta of 1.31. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. The stock’s fifty day moving average price is $117.65 and its two-hundred day moving average price is $119.70.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 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%. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.38 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.83%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s payout ratio is currently 69.61%.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TD Cowen increased their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. BMO Capital Markets started coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group raised their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, 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 research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average price target of $125.46.

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.