Trust Investment Advisors Has $1.31 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Trust Investment Advisors grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,051 shares of the financial services provider’s stock after acquiring an additional 230 shares during the period. Trust Investment Advisors’ holdings in Prudential Financial were worth $1,310,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Prudential Financial by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock worth $4,960,547,000 after purchasing an additional 220,671 shares in the last quarter. State Street Corp boosted its stake in shares of Prudential Financial by 0.3% in the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock valued at $2,059,549,000 after buying an additional 49,830 shares during the period. Geode Capital Management LLC increased its stake in Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after acquiring an additional 341,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prudential Financial by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after acquiring an additional 47,561 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Prudential Financial by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock valued at $290,906,000 after acquiring an additional 6,938 shares during the period. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

PRU has been the subject of several recent analyst reports. Morgan Stanley cut their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. TD Cowen increased their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays lifted their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Piper Sandler dropped their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Stock Performance

Shares of PRU stock opened at $114.32 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a one year low of $104.45 and a one year high of $130.55. The business’s 50 day simple moving average is $113.44 and its 200 day simple moving average is $119.01. The stock has a market capitalization of $40.93 billion, a PE ratio of 15.30, a PEG ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is presently 72.29%.

Insider Buying and Selling

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the transaction, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

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.