Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 69.7% during the third quarter, Holdings Channel.com reports. The fund owned 6,252 shares of the financial services provider’s stock after purchasing an additional 2,567 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Prudential Financial were worth $757,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PRU. Creekmur Asset Management LLC increased its stake in shares of Prudential Financial by 78.8% during 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 during the period. Lynx Investment Advisory bought a new stake in Prudential Financial during the second quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new stake in Prudential Financial during the third quarter worth approximately $31,000. Strategic Financial Concepts LLC boosted its holdings in Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after buying an additional 25,027 shares in the last quarter. Finally, Crewe Advisors LLC bought a new stake in Prudential Financial during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. 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 report on Tuesday, August 13th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Piper Sandler lifted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen started coverage on shares of Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Trading Down 0.4 %

Prudential Financial stock opened at $124.11 on Thursday. The stock has a market cap of $44.18 billion, a P/E ratio of 11.03, a P/E/G ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a 12 month low of $93.60 and a 12 month high of $129.13. The company’s fifty day simple moving average is $122.86 and its 200-day simple moving average is $119.56. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

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. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction 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 directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Prudential Financial Company 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.