Catalyst Capital Advisors LLC Takes $96,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Catalyst Capital Advisors LLC bought a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 791 shares of the financial services provider’s stock, valued at approximately $96,000.

Several other hedge funds have also recently made changes to their positions in PRU. PDS Planning Inc grew its stake in Prudential Financial by 6.5% in the third quarter. PDS Planning Inc now owns 2,043 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 125 shares during the period. QRG Capital Management Inc. grew its stake in Prudential Financial by 238.6% in the third quarter. QRG Capital Management Inc. now owns 49,779 shares of the financial services provider’s stock worth $6,028,000 after purchasing an additional 35,076 shares during the period. National Pension Service grew its stake in Prudential Financial by 18.1% in the third quarter. National Pension Service now owns 587,189 shares of the financial services provider’s stock worth $71,109,000 after purchasing an additional 89,949 shares during the period. TrueWealth Advisors LLC grew its stake in Prudential Financial by 22.5% in the third quarter. TrueWealth Advisors LLC now owns 4,160 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 763 shares during the period. Finally, Van ECK Associates Corp grew its stake in Prudential Financial by 49.5% in the third quarter. Van ECK Associates Corp now owns 17,600 shares of the financial services provider’s stock worth $2,203,000 after purchasing an additional 5,825 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Prudential Financial Stock Up 6.3 %

PRU stock opened at $127.73 on Thursday. Prudential Financial, Inc. has a twelve month low of $89.90 and a twelve month high of $129.13. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market cap of $45.47 billion, a P/E ratio of 11.35, a PEG ratio of 0.86 and a beta of 1.29. The business’s 50-day moving average price is $121.38 and its 200-day moving average price is $118.62.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the previous year, the firm earned $3.44 EPS. On average, equities research analysts forecast that Prudential Financial, Inc. will post 13.32 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PRU shares. TD Cowen started coverage on Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target on the stock. Piper Sandler increased their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Bank of America increased their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their target price on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $123.85.

About Prudential Financial

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.