Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Capital Investment Advisors LLC

Capital Investment Advisors LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,736 shares of the financial services provider’s stock after buying an additional 331 shares during the period. Capital Investment Advisors LLC’s holdings in Prudential Financial were worth $443,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PRU. Citizens Financial Group Inc. RI increased its holdings in shares of Prudential Financial by 90.7% in the second quarter. Citizens Financial Group Inc. RI now owns 4,111 shares of the financial services provider’s stock valued at $482,000 after buying an additional 1,955 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Prudential Financial in the second quarter valued at $258,000. Meiji Yasuda Life Insurance Co bought a new position in shares of Prudential Financial in the second quarter valued at $857,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Prudential Financial by 0.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 34,074 shares of the financial services provider’s stock valued at $3,993,000 after buying an additional 291 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Prudential Financial by 389.6% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,161 shares of the financial services provider’s stock valued at $2,949,000 after buying an additional 20,022 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Prudential Financial Trading Up 2.1 %

Prudential Financial stock opened at $120.10 on Thursday. The company’s fifty day simple moving average is $122.38 and its 200-day simple moving average is $120.67. 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, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55. The stock has a market cap of $42.76 billion, a P/E ratio of 10.68, a P/E/G ratio of 0.87 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the business posted $3.44 earnings per share. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.33%. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Analyst Ratings Changes

PRU has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. TD Cowen boosted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Bank of America boosted their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays boosted their target price on shares of Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Piper Sandler boosted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Eleven equities research 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $127.00.

About Prudential Financial

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.