Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 129,272 shares of the financial services provider’s stock after purchasing an additional 4,232 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Prudential Financial were worth $15,323,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. 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 buying an additional 87 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial in the fourth quarter valued at about $29,000. CGC Financial Services LLC increased its stake 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 during the period. Wingate Wealth Advisors Inc. purchased a new position in Prudential Financial during the fourth quarter worth about $33,000. Finally, Quarry LP lifted its position in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

PRU stock opened at $109.94 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock’s 50 day moving average price is $113.09 and its 200 day moving average price is $118.98. The firm has a market cap of $39.36 billion, a P/E ratio of 14.72, a PEG ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.91%. Prudential Financial’s payout ratio is 72.29%.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the acquisition, the insider now directly owns 139,987 shares of the company’s stock, valued at approximately $3,992,429.24. The trade was a 60.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRU. Jefferies Financial Group increased their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Piper Sandler lowered their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley reduced their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, Wells Fargo & Company upped their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $126.15.

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.