Valmark Advisers Inc. Purchases 524 Shares of Prudential Financial, Inc. (NYSE:PRU)

Valmark Advisers Inc. lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 16.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,630 shares of the financial services provider’s stock after purchasing an additional 524 shares during the period. Valmark Advisers Inc.’s holdings in Prudential Financial were worth $440,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PRU. International Assets Investment Management LLC lifted its holdings in shares of Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after buying an additional 1,267,571 shares during the last quarter. AQR Capital Management LLC raised its stake in Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after purchasing an additional 357,300 shares during the last quarter. Swedbank AB bought a new stake in Prudential Financial in the 1st quarter valued at $35,855,000. Legal & General Group Plc grew its position in Prudential Financial by 9.4% in the 2nd 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 during the last quarter. Finally, OFI Invest Asset Management raised its position in shares of Prudential Financial by 10,529.7% during the second quarter. OFI Invest Asset Management now owns 155,513 shares of the financial services provider’s stock valued at $17,004,000 after buying an additional 154,050 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE PRU opened at $126.66 on Thursday. The firm has a market cap of $45.22 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 0.94 and a beta of 1.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 1-year low of $89.90 and a 1-year high of $128.52. The company has a 50 day moving average of $120.88 and a 200-day moving average of $118.13.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. On average, equities analysts forecast that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.11%. Prudential Financial’s dividend payout ratio is 66.84%.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated 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 directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the 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 completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PRU has been the topic of a number of recent research reports. Citigroup lifted their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Piper Sandler boosted their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. TD Cowen started coverage on Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price for the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, Barclays initiated coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective for the company. One equities research 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. According to data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $123.69.

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.