FNY Investment Advisers LLC Invests $1.72 Million in Prudential Financial, Inc. (NYSE:PRU)

FNY Investment Advisers LLC purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 14,500 shares of the financial services provider’s stock, valued at approximately $1,718,000.

A number of other institutional investors also recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial during the 3rd quarter worth approximately $31,000. Quarry LP grew its stake in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares during the period. Tompkins Financial Corp raised its holdings in Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in Prudential Financial by 235.4% during the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after buying an additional 266 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Prudential Financial in the 3rd quarter worth about $48,000. 56.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PRU has been the topic of several research reports. Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company boosted their price target on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Barclays raised their price objective on Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. TD Cowen boosted their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average price target of $127.17.

Prudential Financial Trading Up 1.7 %

NYSE:PRU opened at $116.47 on Tuesday. The company has a 50 day simple moving average of $122.43 and a two-hundred day simple moving average of $120.66. The company has a market cap of $41.46 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month 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 company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the business earned $3.44 earnings per share. Research analysts forecast that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.46%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

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.