Federated Hermes Inc. Buys 7,526 Shares of Prudential Financial, Inc. $PRU

Federated Hermes Inc. raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,095,031 shares of the financial services provider’s stock after buying an additional 7,526 shares during the quarter. Federated Hermes Inc.’s holdings in Prudential Financial were worth $113,599,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new stake in Prudential Financial during the second quarter worth about $36,000. Chilton Capital Management LLC lifted its holdings in shares of Prudential Financial by 146.5% during the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 208 shares during the period. AlphaCore Capital LLC acquired a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $39,000. Capital A Wealth Management LLC increased its stake in Prudential Financial by 4,600.0% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 368 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in Prudential Financial during the second quarter valued at approximately $51,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Prudential Financial stock opened at $107.72 on Thursday. The business has a 50 day moving average of $112.57 and a 200-day moving average of $107.27. The company has a market capitalization of $37.70 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.19 and a beta of 0.97. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $123.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.72 by $0.54. The firm had revenue of $17.89 billion for the quarter, compared to analyst estimates of $13.77 billion. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. During the same period in the previous year, the firm posted $3.48 EPS. On average, equities research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s dividend payout ratio is presently 74.18%.

Insider Buying and Selling

In other Prudential Financial news, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the purchase, the insider owned 7,709,624 shares of the company’s stock, valued at approximately $191,738,348.88. This trade represents a 22.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 62,719 shares of company stock valued at $6,796,067 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PRU has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Barclays decreased their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Evercore ISI increased their target price on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. Mizuho started coverage on shares of Prudential Financial in a report on Tuesday, December 16th. They set a “neutral” rating and a $125.00 price target on the stock. Finally, Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $120.78.

About Prudential Financial

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.