HB Wealth Management LLC Boosts Position in Prudential Financial, Inc. (NYSE:PRU)

HB Wealth Management LLC increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 52.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,959 shares of the financial services provider’s stock after acquiring an additional 4,093 shares during the quarter. HB Wealth Management LLC’s holdings in Prudential Financial were worth $1,418,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of Prudential Financial by 4,130.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after buying an additional 1,267,571 shares during the last quarter. Nordea Investment Management AB grew its position in Prudential Financial by 176.8% in the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock worth $123,804,000 after acquiring an additional 665,180 shares during the period. AQR Capital Management LLC increased its stake in Prudential Financial by 97.4% during the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after acquiring an additional 357,300 shares during the last quarter. FMR LLC raised its position in Prudential Financial by 31.3% in the third 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. Finally, Geode Capital Management LLC grew its holdings in shares of Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after purchasing an additional 341,787 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 0.5 %

Shares of NYSE:PRU opened at $118.98 on Tuesday. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. The firm’s 50 day moving average price is $122.06 and its 200 day moving average price is $120.69. 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 $42.36 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced 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. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates 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 last year, the business earned $3.44 EPS. As a group, equities research analysts predict that Prudential Financial, Inc. will post 13.34 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were issued a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.37%. Prudential Financial’s payout ratio is currently 46.22%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRU. Keefe, Bruyette & Woods reduced their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company lowered their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Piper Sandler cut their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group raised their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Barclays cut their price objective on Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating on the stock in a report on Friday. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $127.25.

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.