Clarity Financial LLC Has $605,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Clarity Financial LLC grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,992 shares of the financial services provider’s stock after purchasing an additional 300 shares during the quarter. Clarity Financial LLC’s holdings in Prudential Financial were worth $605,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversify Advisory Services LLC acquired a new stake in Prudential Financial during the first quarter worth about $272,000. Mirae Asset Global Investments Co. Ltd. grew its position in Prudential Financial by 4.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,164 shares of the financial services provider’s stock worth $12,698,000 after buying an additional 4,802 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Prudential Financial by 9.4% during the first quarter. Daiwa Securities Group Inc. now owns 36,057 shares of the financial services provider’s stock worth $4,233,000 after buying an additional 3,109 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Prudential Financial by 4.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,264 shares of the financial services provider’s stock worth $383,000 after buying an additional 141 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in Prudential Financial by 165.7% during the first quarter. Larson Financial Group LLC now owns 364 shares of the financial services provider’s stock worth $43,000 after buying an additional 227 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PRU shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Piper Sandler lifted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Citigroup lifted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. TD Cowen initiated coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $123.77.

Insider Activity

In other news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Prudential Financial Price Performance

PRU opened at $120.66 on Tuesday. The company has a fifty day moving average price of $121.16 and a two-hundred day moving average price of $118.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial, Inc. has a 52 week low of $89.90 and a 52 week high of $128.52. The firm has a market capitalization of $42.95 billion, a PE ratio of 10.73, a P/E/G ratio of 0.86 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (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 company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the business earned $3.44 EPS. As a group, analysts anticipate that Prudential Financial, Inc. will post 13.32 earnings per share for the current year.

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.