Insider Buying: Prudential Financial, Inc. (NYSE:PRU) EVP Acquires 129 Shares of Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney acquired 129 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $113.01 per share, with a total value of $14,578.29. Following the transaction, the executive vice president now directly owns 10,429 shares of the company’s stock, valued at $1,178,581.29. This represents a 1.25 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Prudential Financial Trading Down 0.4 %

Shares of Prudential Financial stock traded down $0.43 during mid-day trading on Friday, hitting $110.35. 3,235,592 shares of the stock were exchanged, compared to its average volume of 1,432,296. The company has a 50-day simple moving average of $113.65 and a 200 day simple moving average of $119.12. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $39.51 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.89%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

Hedge Funds Weigh In On Prudential Financial

Large investors have recently bought and sold shares of the stock. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new stake in Prudential Financial during the fourth quarter worth about $29,000. CGC Financial Services LLC raised its holdings in shares of Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 124 shares during the period. Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter worth about $33,000. Finally, Quarry LP increased its position in Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. TD Cowen increased their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Barclays lifted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Piper Sandler lowered their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Morgan Stanley reduced their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $126.15.

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.