Prudential Financial, Inc. (NYSE:PRU) Position Boosted by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 73.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,270 shares of the financial services provider’s stock after buying an additional 4,333 shares during the quarter. Farther Finance Advisors LLC’s holdings in Prudential Financial were worth $1,244,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PRU. Legal & General Group Plc raised its position in shares of Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after acquiring an additional 305,143 shares in the last quarter. abrdn plc raised its holdings in shares of Prudential Financial by 4.0% during the third quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock worth $158,120,000 after purchasing an additional 50,026 shares during the period. International Assets Investment Management LLC lifted its position in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after buying an additional 1,267,571 shares during the last quarter. AustralianSuper Pty Ltd boosted its holdings in shares of Prudential Financial by 2.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider’s stock valued at $153,312,000 after buying an additional 28,459 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Prudential Financial by 8.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock valued at $120,181,000 after buying an additional 82,620 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $121.28 on Monday. The stock’s 50 day moving average price is $121.10 and its 200 day moving average price is $118.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.13. The stock has a market cap of $43.30 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 0.93 and a beta of 1.29. Prudential Financial, Inc. has a 12 month low of $89.90 and a 12 month high of $128.52.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data 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. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the firm posted $3.44 earnings per share. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.32 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.29%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PRU shares. Citigroup lifted their target price on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, Piper Sandler boosted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $123.77.

Prudential Financial Company 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.