TCTC Holdings LLC Takes $37,000 Position in Prudential Financial, Inc. (NYSE:PRU)

TCTC Holdings LLC purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 314 shares of the financial services provider’s stock, valued at approximately $37,000.

Other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust increased its stake in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Prudential Financial during the fourth quarter valued at $29,000. CGC Financial Services LLC increased its stake in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after buying an additional 124 shares during the period. Wingate Wealth Advisors Inc. purchased a new position in shares of Prudential Financial during the fourth quarter valued at $33,000. Finally, 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 valued at $34,000 after purchasing an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the acquisition, the insider now directly owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company lifted their target price on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Barclays lifted their target price on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Piper Sandler cut their target price 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. Finally, TD Cowen boosted their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $126.15.

Prudential Financial Trading Up 1.7 %

Prudential Financial stock opened at $110.35 on Tuesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52 week low of $104.45 and a 52 week high of $130.55. The company has a market capitalization of $39.50 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The stock has a 50-day moving average price of $114.15 and a 200 day moving average price of $119.32.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.89%. Prudential Financial’s payout ratio is 72.29%.

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.