Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Lowe Wealth Advisors LLC

Lowe Wealth Advisors LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 13.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,103 shares of the financial services provider’s stock after acquiring an additional 127 shares during the period. Lowe Wealth Advisors LLC’s holdings in Prudential Financial were worth $131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial in the 3rd quarter worth about $31,000. Quarry LP lifted its stake in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after buying an additional 222 shares in the last quarter. Tompkins Financial Corp boosted its position in Prudential Financial by 61.7% during the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 140 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in Prudential Financial by 235.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 266 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in Prudential Financial during the third quarter worth $48,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Down 3.4 %

Prudential Financial stock traded down $4.02 during midday trading on Friday, reaching $114.41. The company’s stock had a trading volume of 1,911,142 shares, compared to its average volume of 1,194,421. The business has a 50-day simple moving average of $122.65 and a 200-day simple moving average of $120.67. The company has a market cap of $40.73 billion, a P/E ratio of 10.17, a P/E/G ratio of 0.87 and a beta of 1.31. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data 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 company had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the prior year, the firm posted $3.44 earnings per share. On average, research analysts expect that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.55%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PRU shares. Piper Sandler lifted their price target on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. TD Cowen raised their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Bank of America upped their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Barclays boosted their price objective on Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus price target of $127.17.

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.