Newbridge Financial Services Group Inc. Purchases Shares of 578 Prudential Financial, Inc. (NYSE:PRU)

Newbridge Financial Services Group Inc. acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 578 shares of the financial services provider’s stock, valued at approximately $68,000.

A number of other institutional investors also recently modified their holdings of PRU. Grove Bank & Trust raised its position in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial during the third quarter valued at approximately $31,000. CGC Financial Services LLC raised its holdings in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 124 shares in the last quarter. Quarry LP boosted its holdings in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 222 shares in the last quarter. Finally, Private Wealth Management Group LLC increased its position in Prudential Financial by 119.0% during the 4th quarter. Private Wealth Management Group LLC now owns 322 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 175 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRU. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price on the stock. Jefferies Financial Group raised their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays upped their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods lowered their price objective on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $125.77.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction 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 transaction, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

Prudential Financial Stock Down 0.7 %

NYSE:PRU opened at $111.98 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.14 and a current ratio of 0.16. The firm has a market cap of $39.86 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.00 and a beta of 1.31. Prudential Financial, Inc. has a fifty-two week low of $104.02 and a fifty-two week high of $130.55. The firm has a 50-day simple moving average of $119.41 and a two-hundred day simple moving average of $120.23.

Prudential Financial (NYSE:PRU) last announced 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%. Analysts predict that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.82%. Prudential Financial’s dividend payout ratio (DPR) is 69.61%.

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.