Insider Buying: Prudential Financial, Inc. (NYSE:PRU) EVP Purchases 125 Shares of Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney purchased 125 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of $115.90 per share, with a total value of $14,487.50. Following the acquisition, the executive vice president now directly owns 11,410 shares of the company’s stock, valued at $1,322,419. This trade represents a 1.11 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Prudential Financial Price Performance

NYSE:PRU traded down $0.43 during trading hours on Friday, reaching $110.35. 3,235,592 shares of the company were exchanged, compared to its average volume of 1,432,296. The stock’s 50-day moving average is $113.65 and its 200-day moving average is $119.12. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The firm has a market cap of $39.51 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

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

Prudential Financial Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PRU shares. Jefferies Financial Group upped their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. TD Cowen increased their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. 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. BMO Capital Markets started coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Finally, Piper Sandler reduced 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 report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $126.15.

Hedge Funds Weigh In On Prudential Financial

A number of institutional investors have recently bought and sold shares of PRU. Empowered Funds LLC lifted its stake in Prudential Financial by 8.2% during the third quarter. Empowered Funds LLC now owns 11,404 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 861 shares in the last quarter. Caprock Group LLC lifted its stake in Prudential Financial by 5.2% during the 3rd quarter. Caprock Group LLC now owns 9,679 shares of the financial services provider’s stock worth $1,172,000 after acquiring an additional 479 shares in the last quarter. Prospera Financial Services Inc lifted its stake in Prudential Financial by 3.9% during the 3rd quarter. Prospera Financial Services Inc now owns 8,466 shares of the financial services provider’s stock worth $1,026,000 after acquiring an additional 318 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in Prudential Financial by 69.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 6,252 shares of the financial services provider’s stock valued at $757,000 after acquiring an additional 2,567 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Prudential Financial during the third quarter worth about $2,876,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

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.