Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by PFG Investments LLC

PFG Investments LLC boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,693 shares of the financial services provider’s stock after acquiring an additional 339 shares during the quarter. PFG Investments LLC’s holdings in Prudential Financial were worth $551,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Cambridge Trust Co. boosted its position in Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $26,000. Headinvest LLC purchased a new position in Prudential Financial in the third quarter valued at $27,000. Arlington Trust Co LLC increased its stake in shares of Prudential Financial by 151.6% in the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in Prudential Financial in the first quarter valued at approximately $37,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the transaction, the executive vice president now owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares of the company’s stock, valued at $883,805.86. The disclosure for this sale can be found here. Insiders have sold 29,255 shares of company stock worth $3,215,664 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Prudential Financial Trading Up 1.3 %

Shares of PRU traded up $1.44 during midday trading on Monday, reaching $111.94. The company had a trading volume of 1,361,482 shares, compared to its average volume of 1,502,906. Prudential Financial, Inc. has a 1-year low of $77.22 and a 1-year high of $118.69. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm has a 50 day simple moving average of $111.84 and a 200-day simple moving average of $103.99. The stock has a market cap of $40.19 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). The firm had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. Prudential Financial’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.42 earnings per share. Research analysts forecast that Prudential Financial, Inc. will post 13.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.65%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s dividend payout ratio is presently 77.73%.

Analysts Set New Price Targets

PRU has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Evercore ISI lifted their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $118.00 price objective (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods raised their target price on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $111.42.

About Prudential Financial

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.