Prudential Financial, Inc. (NYSE:PRU) Major Shareholder Insurance Co Of Ame Prudential Purchases 52,595 Shares

Prudential Financial, Inc. (NYSE:PRU) major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 25th. The stock was bought at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the purchase, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. This represents a 60.18 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Insurance Co Of Ame Prudential also recently made the following trade(s):

• On Wednesday, March 12th, Insurance Co Of Ame Prudential purchased 87,047 shares of Prudential Financial stock. The stock was bought at an average cost of $28.72 per share, with a total value of $2,499,989.84.

Prudential Financial Stock Down 0.9 %

PRU opened at $114.50 on Friday. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55. The firm has a 50 day moving average price of $113.27 and a 200 day moving average price of $118.95. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $40.99 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (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%. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.72%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of 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 boosted their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Jefferies Financial Group lifted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler reduced their price target 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, Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $126.15.

Hedge Funds Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Prudential Financial during the fourth quarter worth $115,878,000. Northern Trust Corp increased its stake in Prudential Financial by 23.7% during the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock worth $555,513,000 after buying an additional 897,916 shares during the period. Nordea Investment Management AB boosted its position in Prudential Financial by 176.8% in the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after buying an additional 665,180 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Prudential Financial during the fourth quarter valued at about $76,303,000. Finally, Marshall Wace LLP increased its position in shares of Prudential Financial by 322.9% during the fourth quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider’s stock worth $84,287,000 after acquiring an additional 542,964 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

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.