Thrivent Financial for Lutherans Has $4.77 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Thrivent Financial for Lutherans reduced its holdings in Prudential Financial, Inc. (NYSE:PRUFree Report) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,365 shares of the financial services provider’s stock after selling 633 shares during the period. Thrivent Financial for Lutherans’ holdings in Prudential Financial were worth $4,767,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRU. Creekmur Asset Management LLC lifted its stake in Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial in the 2nd quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial in the third quarter valued at $31,000. Bank & Trust Co acquired a new position in Prudential Financial during the second quarter worth $37,000. Finally, Hobbs Group Advisors LLC bought a new stake in Prudential Financial during the second quarter worth $38,000. 56.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PRU has been the topic of several recent analyst reports. Bank of America boosted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price objective on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Piper Sandler lifted their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, UBS Group raised their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus price target of $125.69.

Check Out Our Latest Stock Analysis on Prudential Financial

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Prudential Financial stock opened at $127.89 on Friday. The stock’s fifty day moving average price is $123.30 and its two-hundred day moving average price is $119.72. The firm has a market cap of $45.53 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 0.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial, Inc. has a one year low of $94.92 and a one year high of $129.13.

Prudential Financial (NYSE:PRUGet Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analysts’ expectations 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 business posted $3.44 earnings per share. As a group, research analysts expect that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.07%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Prudential Financial Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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