Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by SVB Wealth LLC

SVB Wealth LLC increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,233 shares of the financial services provider’s stock after purchasing an additional 293 shares during the quarter. SVB Wealth LLC’s holdings in Prudential Financial were worth $1,683,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital Analysts LLC purchased a new position in Prudential Financial in the 4th quarter worth approximately $46,000. BOK Financial Private Wealth Inc. boosted its holdings in Prudential Financial by 78.5% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 1,573 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 692 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Prudential Financial in the 4th quarter worth approximately $214,000. Louisiana State Employees Retirement System purchased a new position in Prudential Financial in the 4th quarter worth approximately $2,261,000. Finally, Bray Capital Advisors boosted its stake in shares of Prudential Financial by 4.8% during the 4th quarter. Bray Capital Advisors now owns 9,469 shares of the financial services provider’s stock valued at $982,000 after buying an additional 435 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $108.70 on Friday. Prudential Financial, Inc. has a 1-year low of $77.22 and a 1-year high of $118.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The business’s fifty day moving average price is $111.20 and its two-hundred day moving average price is $102.94. The firm has a market capitalization of $39.02 billion, a PE ratio of 16.25, a P/E/G ratio of 0.73 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.09). The company had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. Prudential Financial’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.42 earnings per share. On average, research analysts expect that Prudential Financial, Inc. will post 13.38 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.78%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s dividend payout ratio (DPR) is 77.73%.

Insider Activity

In other news, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the transaction, the executive vice president now directly owns 13,691 shares in the company, valued at $1,527,504.87. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,255 shares of company stock valued at $3,215,664. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Evercore ISI increased their target price on Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $118.00 target price (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Wells Fargo & Company increased their target price on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods raised their price objective on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.33.

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.