Brown Brothers Harriman & Co. Purchases 196 Shares of Prudential Financial, Inc. (NYSE:PRU)

Brown Brothers Harriman & Co. grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 16.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,408 shares of the financial services provider’s stock after buying an additional 196 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Prudential Financial were worth $171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PRU. Annex Advisory Services LLC increased its holdings in Prudential Financial by 3.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 81 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Prudential Financial by 1.1% during the second quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC grew its holdings in shares of Prudential Financial by 1.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 89 shares during the last quarter. Quotient Wealth Partners LLC grew its holdings in shares of Prudential Financial by 3.9% during the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 92 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its holdings in shares of Prudential Financial by 4.6% during the first quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 6.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on PRU shares. Barclays increased their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Piper Sandler raised their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Bank of America raised their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. UBS Group raised their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday. Eleven analysts have rated the stock with 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, the company presently has an average rating of “Hold” and an average price target of $125.92.

Prudential Financial Trading Up 0.3 %

NYSE:PRU opened at $129.52 on Thursday. Prudential Financial, Inc. has a 1-year low of $95.10 and a 1-year high of $130.55. The business’s 50-day moving average price is $123.93 and its two-hundred day moving average price is $119.96. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $46.11 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for 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 last year, the firm posted $3.44 earnings per share. On average, equities analysts expect that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 46.22%.

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.