Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,991 shares of the financial services provider’s stock after acquiring an additional 996 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Prudential Financial were worth $1,777,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PRU. Grove Bank & Trust raised its holdings in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $29,000. CGC Financial Services LLC lifted 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 acquiring an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $33,000. Finally, Hopwood Financial Services Inc. acquired a new stake in Prudential Financial in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $101.61 on Thursday. The stock’s 50-day simple moving average is $106.97 and its 200-day simple moving average is $116.46. The firm has a market capitalization of $36.01 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

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

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This is a positive change 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 dividend yield of 5.31%. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PRU. Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $125.00 to $120.00 and set a “market perform” rating for the company in a research report on Wednesday, April 9th. Piper Sandler dropped their target price on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Morgan Stanley lowered their price objective on shares of 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. UBS Group cut their target price on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $121.85.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the acquisition, the insider now directly owns 139,987 shares of the company’s stock, valued at $3,992,429.24. The trade was a 60.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Prudential Financial 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.