Retirement Wealth Solutions LLC Purchases New Position in Prudential Financial, Inc. (NYSE:PRU)

Retirement Wealth Solutions LLC bought a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 327 shares of the financial services provider’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after purchasing an additional 1,267,571 shares during the last quarter. Nordea Investment Management AB raised its stake in Prudential Financial by 176.8% during 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. AQR Capital Management LLC boosted its stake in shares of Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after buying an additional 357,300 shares during the last quarter. FMR LLC grew its holdings in shares of Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after acquiring an additional 344,254 shares during the period. Finally, Geode Capital Management LLC increased its position in Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after acquiring an additional 341,787 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $118.98 on Friday. The stock has a 50-day moving average price of $122.12 and a 200 day moving average price of $120.65. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55. The stock has a market capitalization of $42.36 billion, a P/E ratio of 10.58, a P/E/G ratio of 0.75 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the business posted $3.44 earnings per share. Equities research analysts forecast that Prudential Financial, Inc. will post 13.34 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.37%. Prudential Financial’s payout ratio is 46.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday. Piper Sandler dropped their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company cut their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday. TD Cowen raised their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $127.25.

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.