2,341 Shares in Prudential Financial, Inc. (NYSE:PRU) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 2,341 shares of the financial services provider’s stock, valued at approximately $283,000.

A number of other hedge funds have also recently made changes to their positions in PRU. Lynx Investment Advisory bought a new stake in Prudential Financial during the second quarter valued at $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial during the 3rd quarter valued at about $31,000. Strategic Financial Concepts LLC grew its holdings in shares of Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 25,027 shares in the last quarter. Bank & Trust Co bought a new position in shares of Prudential Financial in the second quarter worth approximately $37,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Prudential Financial in the second quarter valued at approximately $38,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $129.41 on Monday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market cap of $46.07 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.29. Prudential Financial, Inc. has a 12 month low of $96.45 and a 12 month high of $130.55. The company has a 50-day moving average price of $124.24 and a 200-day moving average price of $120.12.

Prudential Financial (NYSE:PRU) last released 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 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. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.02%. Prudential Financial’s dividend payout ratio is 46.22%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America increased their price target 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. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays increased their price objective on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, TD Cowen lifted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Eleven analysts have rated the stock with 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 a consensus price target of $125.92.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.