Consolidated Portfolio Review Corp Purchases Shares of 26,431 Prudential Financial, Inc. (NYSE:PRU)

Consolidated Portfolio Review Corp acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 26,431 shares of the financial services provider’s stock, valued at approximately $3,133,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRU. Grove Bank & Trust raised its holdings in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 89 shares during the period. Asset Dedication LLC raised its stake in Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 93 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in Prudential Financial by 3.9% during the 3rd 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 last quarter. Finally, UMB Bank n.a. raised its stake in shares of 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 last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $113.38 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $40.36 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The business has a 50-day moving average of $120.07 and a 200 day moving average of $120.42. Prudential Financial, Inc. has a 12 month low of $103.28 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.24 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be given a $1.35 dividend. The ex-dividend date is Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.76%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. TD Cowen lifted their price objective on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Piper Sandler dropped their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group upped their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $125.77.

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.