Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney Acquires 129 Shares of Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney acquired 129 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $113.01 per share, for a total transaction of $14,578.29. Following the completion of the acquisition, the executive vice president now directly owns 10,429 shares in the company, valued at $1,178,581.29. The trade was a 1.25 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Prudential Financial Stock Down 0.4 %

Shares of Prudential Financial stock opened at $110.35 on Friday. Prudential Financial, Inc. has a 1-year low of $104.45 and a 1-year high of $130.55. The company has a market capitalization of $39.51 billion, a P/E ratio of 14.77, a PEG ratio of 0.98 and a beta of 1.28. The business’s fifty day moving average price is $113.57 and its two-hundred day moving average price is $119.05. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a $1.35 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.89%. Prudential Financial’s dividend payout ratio is 72.29%.

Wall Street Analyst Weigh In

PRU has been the subject of several research analyst reports. TD Cowen boosted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Piper Sandler cut their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company lifted their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group raised their price objective 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, BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $126.15.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Grove Bank & Trust grew its stake in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Prudential Financial during the fourth quarter valued at $29,000. CGC Financial Services LLC lifted its position in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial during the 4th quarter valued at $33,000. Finally, Quarry LP grew its stake in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

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.