Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Ethic Inc.

Ethic Inc. boosted its stake in Prudential Financial, Inc. (NYSE:PRUFree Report) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,425 shares of the financial services provider’s stock after purchasing an additional 6,953 shares during the quarter. Ethic Inc.’s holdings in Prudential Financial were worth $9,171,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Cambridge Trust Co. increased its position in Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Prudential Financial in the 4th quarter valued at $26,000. Headinvest LLC purchased a new position in Prudential Financial in the third quarter valued at about $27,000. Arlington Trust Co LLC lifted its stake in shares of Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Janiczek Wealth Management LLC boosted its position in shares of Prudential Financial by 49.6% in the fourth quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock worth $39,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRU. Jefferies Financial Group raised Prudential Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $121.00 to $143.00 in a research report on Wednesday, May 22nd. Wells Fargo & Company lifted their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Evercore ISI upped their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. Piper Sandler dropped their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Finally, Morgan Stanley increased their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $115.25.

View Our Latest Stock Report on PRU

Insiders Place Their Bets

In other news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy L. Schmidt sold 5,189 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Prudential Financial Stock Performance

Shares of NYSE:PRU traded down $2.64 during trading on Tuesday, reaching $114.73. 559,703 shares of the company’s stock traded hands, compared to its average volume of 1,476,022. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The company has a 50 day moving average of $115.26 and a 200-day moving average of $109.24. Prudential Financial, Inc. has a 12 month low of $83.34 and a 12 month high of $121.39. The stock has a market capitalization of $41.19 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35.

Prudential Financial (NYSE:PRUGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same quarter in the previous year, the company earned $2.66 earnings per share. Prudential Financial’s quarterly revenue was up 69.9% compared to the same quarter last year. On average, equities analysts expect that Prudential Financial, Inc. will post 13.41 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Monday, May 20th. Prudential Financial’s payout ratio is 88.44%.

Prudential Financial Company 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.

Read More

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

Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.