Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 136.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,627 shares of the financial services provider’s stock after purchasing an additional 3,824 shares during the quarter. Merit Financial Group LLC’s holdings in Prudential Financial were worth $785,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PRU. State Street Corp increased its stake in Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock valued at $2,059,549,000 after buying an additional 49,830 shares during the period. Geode Capital Management LLC increased its stake in shares of Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after acquiring an additional 341,787 shares during the period. Legal & General Group Plc lifted its position in Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after purchasing an additional 305,143 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Prudential Financial by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after purchasing an additional 47,561 shares in the last quarter. Finally, FMR LLC increased its position in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after purchasing an additional 344,254 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

PRU opened at $120.20 on Wednesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 1 year low of $100.60 and a 1 year high of $130.55. The stock has a fifty day moving average price of $121.94 and a 200 day moving average price of $120.69. The stock has a market cap of $42.79 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.78 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the prior year, the company posted $3.44 earnings per share. Analysts forecast that Prudential Financial, Inc. will post 13.34 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is 46.22%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PRU. Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company reduced their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Jefferies Financial Group lifted their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Bank of America upped their price objective 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. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $127.25.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by corporate insiders.

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.