Insurance Co Of Ame Prudential Acquires 537,249 Shares of Prudential Financial, Inc. (NYSE:PRU) Stock

Prudential Financial, Inc. (NYSE:PRU) major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Insurance Co Of Ame Prudential also recently made the following trade(s):

• On Tuesday, October 8th, Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock. The shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22.

Prudential Financial Stock Performance

Shares of PRU opened at $129.42 on Friday. The firm has a market capitalization of $46.07 billion, a PE ratio of 11.50, a P/E/G ratio of 0.93 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $124.24 and a 200 day moving average price of $120.11. Prudential Financial, Inc. has a 52-week low of $96.45 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter last year, the business earned $3.44 earnings per share. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.02%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Barclays lifted their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. UBS Group upped their target price on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday. Piper Sandler upped their price objective on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Bank of America raised their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eleven analysts have rated the stock with 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 company presently has an average rating of “Hold” and a consensus target price of $125.92.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PRU. Creekmur Asset Management LLC grew its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory acquired a new position in Prudential Financial in the second quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial in the third quarter valued at $31,000. Strategic Financial Concepts LLC boosted its stake in shares of Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 25,027 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

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.