Insurance Co Of Ame Prudential Acquires 537,249 Shares of Prudential Financial, Inc. (NYSE:PRU) Stock

Prudential Financial, Inc. (NYSE:PRU) major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% 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 Tuesday, October 8th, Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock. The stock was bought at an average price of $27.58 per share, with a total value of $7,200,007.22.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded up $0.41 during trading hours on Wednesday, hitting $129.52. 983,120 shares of the company’s stock traded hands, compared to its average volume of 1,499,113. The stock 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, Inc. has a 12-month low of $95.10 and a 12-month high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The company has a fifty day simple moving average of $123.72 and a 200-day simple moving average of $119.89.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company earned $3.44 earnings per share. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

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

Hedge Funds Weigh In On Prudential Financial

A number of large investors have recently modified their holdings of PRU. Price T Rowe Associates Inc. MD lifted its holdings in shares of Prudential Financial by 0.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 498,247 shares of the financial services provider’s stock worth $58,495,000 after acquiring an additional 2,001 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Prudential Financial in the 1st quarter worth approximately $247,000. Janus Henderson Group PLC boosted its stake in Prudential Financial by 49.5% in the first quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock worth $9,409,000 after buying an additional 26,520 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Prudential Financial by 3.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 25,121 shares of the financial services provider’s stock worth $2,949,000 after acquiring an additional 932 shares in the last quarter. Finally, Creekmur Asset Management LLC boosted its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PRU shares. Wells Fargo & Company increased their price target on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. UBS Group lifted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Piper Sandler lifted their price objective on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $125.92.

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.