870 Shares in Prudential Financial, Inc. (NYSE:PRU) Bought by Bfsg LLC

Bfsg LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, Holdings Channel reports. The fund purchased 870 shares of the financial services provider’s stock, valued at approximately $90,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Prudential Financial by 2.9% during the third quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after purchasing an additional 36,599 shares during the last quarter. Czech National Bank increased its holdings in shares of Prudential Financial by 46.8% during the 3rd quarter. Czech National Bank now owns 63,444 shares of the financial services provider’s stock valued at $6,020,000 after acquiring an additional 20,235 shares during the last quarter. Tyche Wealth Partners LLC acquired a new position in shares of Prudential Financial during the 4th quarter valued at about $815,000. Arvest Investments Inc. bought a new stake in Prudential Financial during the 4th quarter valued at approximately $2,112,000. Finally, Victory Capital Management Inc. boosted its stake in Prudential Financial by 14.5% during the 3rd quarter. Victory Capital Management Inc. now owns 268,728 shares of the financial services provider’s stock valued at $25,500,000 after purchasing an additional 34,054 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the sale, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at $883,805.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,255 shares of company stock worth $3,215,664. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $118.00 price objective (down previously from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods raised their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley lifted their target price on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Piper Sandler lifted their target price on Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company raised their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average target price of $111.42.

Prudential Financial Trading Down 1.7 %

Prudential Financial stock traded down $1.92 during trading hours on Thursday, reaching $110.84. 175,259 shares of the company’s stock were exchanged, compared to its average volume of 1,499,608. 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’s 50 day simple moving average is $111.65 and its 200 day simple moving average is $103.56. Prudential Financial, Inc. has a twelve month low of $77.22 and a twelve month high of $118.69. The firm has a market capitalization of $39.79 billion, a PE ratio of 16.58, a PEG ratio of 0.76 and a beta of 1.37.

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

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a dividend of $1.30 per share. The ex-dividend date was Friday, February 16th. This represents a $5.20 annualized dividend and a dividend yield of 4.69%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio (DPR) is presently 77.73%.

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.