Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney Buys 111 Shares

Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney acquired 111 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $120.31 per share, with a total value of $13,354.41. Following the completion of the purchase, the executive vice president now directly owns 10,540 shares of the company’s stock, valued at approximately $1,268,067.40. This represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Prudential Financial Price Performance

Prudential Financial stock opened at $110.35 on Monday. The business’s 50-day simple moving average is $113.57 and its 200 day simple moving average is $119.03. The stock has a market cap of $39.51 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

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

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $1.35 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.89%. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock worth $4,960,547,000 after buying an additional 220,671 shares during the last quarter. State Street Corp raised its position in shares of Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after purchasing an additional 49,830 shares during the period. Geode Capital Management LLC raised its position in shares of Prudential Financial by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider’s stock worth $1,050,635,000 after purchasing an additional 193,681 shares during the period. Northern Trust Corp raised its position in Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock valued at $555,513,000 after buying an additional 897,916 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Prudential Financial by 11.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider’s stock valued at $404,230,000 after buying an additional 352,335 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group increased their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley dropped their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. TD Cowen increased their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. One research 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’s stock. According to data from MarketBeat, Prudential Financial has an average 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.