Prudential Financial, Inc. (NYSE:PRU) Stock Position Lifted by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC grew its position in Prudential Financial, Inc. (NYSE:PRU) by 16.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,099 shares of the financial services provider’s stock after acquiring an additional 864 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Prudential Financial were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Creative Planning boosted its stake in Prudential Financial by 11.6% during the 2nd quarter. Creative Planning now owns 95,214 shares of the financial services provider’s stock valued at $11,158,000 after purchasing an additional 9,889 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Prudential Financial by 4.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 34,354 shares of the financial services provider’s stock worth $4,026,000 after buying an additional 1,340 shares during the period. EP Wealth Advisors LLC grew its holdings in Prudential Financial by 17.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,339 shares of the financial services provider’s stock worth $743,000 after buying an additional 963 shares in the last quarter. SPC Financial Inc. increased its position in Prudential Financial by 2.7% in the 2nd quarter. SPC Financial Inc. now owns 3,802 shares of the financial services provider’s stock valued at $446,000 after acquiring an additional 100 shares during the period. Finally, 3Chopt Investment Partners LLC acquired a new position in Prudential Financial during the 2nd quarter worth $281,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PRU shares. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target for the company. Bank of America upped their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company lowered their target price on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Piper Sandler cut their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $125.31.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Price Performance

PRU opened at $122.44 on Thursday. The firm has a market capitalization of $43.59 billion, a P/E ratio of 10.88, a PEG ratio of 1.09 and a beta of 1.31. The stock has a fifty day moving average of $121.07 and a 200-day moving average of $120.65. The company has a quick ratio of 0.14, a current 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 released its 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 return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the business posted $3.44 EPS. Equities analysts forecast that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

About Prudential Financial

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.