Prudential Financial, Inc. $PRU Position Boosted by Benjamin Edwards Inc.

Benjamin Edwards Inc. increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 17.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 30,416 shares of the financial services provider’s stock after buying an additional 4,516 shares during the quarter. Benjamin Edwards Inc.’s holdings in Prudential Financial were worth $3,156,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Darwin Wealth Management LLC bought a new stake in Prudential Financial in the second quarter worth $36,000. AlphaCore Capital LLC bought a new stake in shares of Prudential Financial in the second quarter valued at approximately $39,000. Capital A Wealth Management LLC grew its position in Prudential Financial by 4,600.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 368 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in Prudential Financial during the second quarter valued at about $51,000. Finally, Crews Bank & Trust raised its stake in shares of Prudential Financial by 36.4% in the second quarter. Crews Bank & Trust now owns 547 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 146 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Down 0.5%

Shares of Prudential Financial stock opened at $118.13 on Friday. The stock has a market cap of $41.35 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.94 and a beta of 0.97. The business’s 50 day moving average is $111.00 and its 200-day moving average is $106.90. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $123.88. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The firm had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. Equities research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Prudential Financial’s payout ratio is 74.18%.

Analysts Set New Price Targets

Several brokerages recently commented on PRU. Mizuho assumed coverage on Prudential Financial in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price target on the stock. Piper Sandler upped their target price on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. Wolfe Research initiated coverage on Prudential Financial in a research report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Prudential Financial in a research report on Monday, December 29th. Finally, Morgan Stanley lifted their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Eleven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Prudential Financial presently has an average rating of “Reduce” and a consensus target price of $118.60.

Insider Buying and Selling

In related news, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the sale, the chairman directly owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Caroline Feeney sold 6,555 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total value of $762,215.40. Following the sale, the executive vice president directly owned 22,523 shares in the company, valued at approximately $2,618,974.44. This trade represents a 22.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 62,719 shares of company stock valued at $6,796,067 over the last quarter. 0.25% of the stock is owned by company insiders.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.