Bray Capital Advisors Has $982,000 Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Bray Capital Advisors boosted its stake in Prudential Financial, Inc. (NYSE:PRUFree Report) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,469 shares of the financial services provider’s stock after purchasing an additional 435 shares during the quarter. Bray Capital Advisors’ holdings in Prudential Financial were worth $982,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Sanctuary Wealth Management L.L.C. acquired a new stake in Prudential Financial in the fourth quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new stake in Prudential Financial in the fourth quarter worth $26,000. Headinvest LLC acquired a new stake in Prudential Financial in the third quarter worth $27,000. Fairfield Bush & CO. acquired a new stake in Prudential Financial in the first quarter worth $36,000. Finally, Arlington Trust Co LLC grew its holdings in shares of Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after buying an additional 185 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of PRU stock opened at $109.69 on Friday. The firm has a market cap of $39.38 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 0.74 and a beta of 1.37. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 52 week low of $77.22 and a 52 week high of $118.69. The firm’s 50-day simple moving average is $111.04 and its two-hundred day simple moving average is $102.62.

Prudential Financial (NYSE:PRUGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The company had revenue of $13.02 billion during the quarter, compared to the consensus estimate of $12.99 billion. During the same period in the prior year, the firm posted $2.42 EPS. The business’s revenue was up 6.7% on a year-over-year basis. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.4 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 annualized dividend and a dividend yield of 4.74%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s payout ratio is 77.73%.

Insider Activity

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew F. Sullivan sold 7,685 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the sale, the executive vice president now directly owns 13,691 shares in the company, valued at approximately $1,527,504.87. The disclosure for this sale can be found here. Insiders have sold a total of 29,255 shares of company stock valued at $3,215,664 over the last quarter. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Raymond James cut shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Morgan Stanley lifted their price objective on shares of Prudential Financial from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Piper Sandler lifted their price objective on shares of Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $110.67.

Read Our Latest Stock Analysis on Prudential Financial

About Prudential Financial

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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