Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Empirical Finance LLC

Empirical Finance LLC raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,724 shares of the financial services provider’s stock after purchasing an additional 257 shares during the period. Empirical Finance LLC’s holdings in Prudential Financial were worth $1,541,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. First Business Financial Services Inc. lifted its stake in Prudential Financial by 4.9% in the 3rd quarter. First Business Financial Services Inc. now owns 17,386 shares of the financial services provider’s stock valued at $2,105,000 after buying an additional 812 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Prudential Financial by 7.8% in the third quarter. CIBC Asset Management Inc now owns 52,168 shares of the financial services provider’s stock worth $6,318,000 after acquiring an additional 3,795 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Prudential Financial by 7.5% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,703 shares of the financial services provider’s stock valued at $1,175,000 after acquiring an additional 673 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Prudential Financial by 1.0% during the third quarter. Metis Global Partners LLC now owns 24,915 shares of the financial services provider’s stock valued at $3,017,000 after acquiring an additional 238 shares during the last quarter. Finally, Planning Capital Management Corp raised its stake in Prudential Financial by 19.6% in the 3rd quarter. Planning Capital Management Corp now owns 817 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 134 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRU. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Citigroup boosted their price target on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Barclays raised their price objective on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. UBS Group upped their target price on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Morgan Stanley decreased their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Price Performance

Prudential Financial stock opened at $127.41 on Friday. The firm has a fifty day moving average of $122.20 and a 200-day moving average of $119.22. Prudential Financial, Inc. has a 52-week low of $93.32 and a 52-week high of $129.13. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $45.36 billion, a P/E ratio of 11.33, a PEG ratio of 0.89 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the prior year, the firm earned $3.44 EPS. As a group, analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

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.