Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Avestar Capital LLC

Avestar Capital LLC lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,440 shares of the financial services provider’s stock after acquiring an additional 223 shares during the quarter. Avestar Capital LLC’s holdings in Prudential Financial were worth $289,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in shares of Prudential Financial by 0.3% in the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after acquiring an additional 49,830 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Prudential Financial by 4.1% in 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 acquiring an additional 341,787 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Prudential Financial by 1.6% in 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 worth $370,327,000 after acquiring an additional 47,561 shares in the last quarter. FMR LLC grew its position in shares of Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after acquiring an additional 344,254 shares in the last quarter. Finally, abrdn plc grew its position in shares of Prudential Financial by 4.0% in the 3rd quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock worth $158,120,000 after acquiring an additional 50,026 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRU. Piper Sandler cut their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. BMO Capital Markets began coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Barclays raised their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $125.46.

Prudential Financial Stock Down 0.3 %

PRU opened at $111.54 on Friday. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.14 and a current ratio of 0.16. The stock’s fifty day moving average is $118.17 and its 200-day moving average is $119.95. The company has a market capitalization of $39.71 billion, a PE ratio of 14.93, a P/E/G ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, equities analysts predict that Prudential Financial, Inc. will post 14.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 69.61%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.31% of the company’s stock.

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.