ST Germain D J Co. Inc. Buys 300 Shares of Prudential Financial, Inc. (NYSE:PRU)

ST Germain D J Co. Inc. raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 55.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 837 shares of the financial services provider’s stock after buying an additional 300 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Prudential Financial were worth $99,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in Prudential Financial during the third quarter worth about $31,000. Quarry LP grew its holdings in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares in the last quarter. Tompkins Financial Corp increased its position in shares of Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in Prudential Financial by 235.4% in the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 266 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in Prudential Financial during the third quarter valued at approximately $48,000. 56.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Trading Down 3.4 %

PRU opened at $114.41 on Friday. The firm has a market capitalization of $40.73 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 0.87 and a beta of 1.31. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55. The business has a 50 day simple moving average of $122.52 and a two-hundred day simple moving average of $120.65. 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 (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating 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 business had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the business posted $3.44 earnings per share. Analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PRU. Jefferies Financial Group raised 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. Bank of America lifted their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Piper Sandler raised their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Barclays upped their target price on Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Eleven equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $127.17.

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.