Benin Management CORP Has $2.14 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Benin Management CORP lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 7.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 18,010 shares of the financial services provider’s stock after selling 1,350 shares during the quarter. Prudential Financial comprises 0.6% of Benin Management CORP’s holdings, making the stock its 25th largest holding. Benin Management CORP’s holdings in Prudential Financial were worth $2,135,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Grove Bank & Trust increased its holdings in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its stake in Prudential Financial by 1.2% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 89 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in Prudential Financial by 3.9% during the third quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 97 shares during the period. UMB Bank n.a. raised its holdings in Prudential Financial by 2.7% in the third quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 97 shares during the period. Finally, Pure Financial Advisors LLC boosted its position in shares of Prudential Financial by 2.7% during the third quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 0.3 %

Shares of Prudential Financial stock opened at $117.22 on Friday. Prudential Financial, Inc. has a 1 year low of $100.60 and a 1 year high of $130.55. The company has a market capitalization of $41.73 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.09 and a beta of 1.31. The business has a fifty day simple moving average of $121.50 and a two-hundred day simple moving average of $120.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRUGet Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share 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 firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the firm earned $3.44 EPS. Research analysts forecast that Prudential Financial, Inc. will post 13.24 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is 46.22%.

Analyst Upgrades and Downgrades

PRU has been the topic of several research analyst reports. Piper Sandler dropped their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Keefe, Bruyette & Woods decreased their price objective on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday, January 16th. TD Cowen raised their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Bank of America boosted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $125.31.

View Our Latest Stock Analysis on Prudential Financial

Prudential Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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