Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 20.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,729 shares of the financial services provider’s stock after purchasing an additional 1,489 shares during the period. Ritholtz Wealth Management’s holdings in Prudential Financial were worth $1,057,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRU. Creekmur Asset Management LLC lifted its position in shares of Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the 2nd quarter worth about $29,000. Crewe Advisors LLC purchased a new stake in shares of Prudential Financial during the first quarter worth about $33,000. ESL Trust Services LLC acquired a new position in shares of Prudential Financial in the first quarter valued at approximately $34,000. Finally, Riverview Trust Co purchased a new position in shares of Prudential Financial during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PRU. Piper Sandler boosted their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. JPMorgan Chase & Co. upped their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. UBS Group raised their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company increased their price target on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $123.69.

Prudential Financial Stock Up 1.2 %

Shares of Prudential Financial stock opened at $125.17 on Tuesday. The company has a fifty day moving average price of $117.33 and a 200 day moving average price of $117.21. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The stock has a market cap of $44.94 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last posted its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Equities research analysts forecast that Prudential Financial, Inc. will post 13.28 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

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.