Tompkins Financial Corp Buys 140 Shares of Prudential Financial, Inc. (NYSE:PRU)

Tompkins Financial Corp grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 61.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 367 shares of the financial services provider’s stock after buying an additional 140 shares during the quarter. Tompkins Financial Corp’s holdings in Prudential Financial were worth $44,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its holdings in shares of Prudential Financial by 2.3% in the 1st quarter. Concurrent Investment Advisors LLC now owns 24,276 shares of the financial services provider’s stock worth $2,850,000 after purchasing an additional 543 shares in the last quarter. Sei Investments Co. boosted its stake in Prudential Financial by 12.9% in the first quarter. Sei Investments Co. now owns 57,853 shares of the financial services provider’s stock worth $6,791,000 after buying an additional 6,609 shares in the last quarter. NorthRock Partners LLC grew its position in Prudential Financial by 45.1% during the first quarter. NorthRock Partners LLC now owns 5,330 shares of the financial services provider’s stock valued at $626,000 after acquiring an additional 1,657 shares during the last quarter. Verus Capital Partners LLC purchased a new position in shares of Prudential Financial during the first quarter worth approximately $201,000. Finally, QRG Capital Management Inc. lifted its holdings in shares of Prudential Financial by 5.2% in the 1st quarter. QRG Capital Management Inc. now owns 14,876 shares of the financial services provider’s stock worth $1,746,000 after acquiring an additional 737 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

PRU stock opened at $121.89 on Friday. The firm has a 50-day moving average of $121.48 and a 200 day moving average of $118.73. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $43.39 billion, a P/E ratio of 10.83, a PEG ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a 1 year low of $90.56 and a 1 year high of $129.13.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter last year, the business posted $3.44 EPS. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.27%. Prudential Financial’s payout ratio is 46.22%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PRU. Citigroup increased their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company lifted their price objective on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. 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. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, TD Cowen began coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average target price of $123.85.

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.