Prudential Financial (NYSE:PRU) EVP Jacques Chappuis Buys 1,000 Shares of Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Jacques Chappuis bought 1,000 shares of Prudential Financial stock in a transaction on Friday, February 6th. The stock was acquired at an average cost of $100.97 per share, with a total value of $100,970.00. Following the acquisition, the executive vice president owned 1,000 shares in the company, valued at approximately $100,970. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Prudential Financial Trading Down 0.5%

Shares of NYSE:PRU opened at $102.24 on Tuesday. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $119.76. The stock’s fifty day moving average price is $112.32 and its 200-day moving average price is $107.41. The company has a market cap of $35.78 billion, a P/E ratio of 10.22, a PEG ratio of 1.17 and a beta of 0.97. 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 issued its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The business had revenue of $14.52 billion during the quarter, compared to analysts’ expectations of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period last year, the firm posted $2.96 EPS. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be issued a $1.40 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, February 17th. Prudential Financial’s dividend payout ratio is 54.00%.

Institutional Trading of Prudential Financial

Several institutional investors and hedge funds have recently modified their holdings of PRU. Norges Bank bought a new stake in Prudential Financial during the second quarter valued at about $122,778,000. Vanguard Group Inc. boosted its stake in shares of Prudential Financial by 1.4% in the second quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock worth $4,566,432,000 after acquiring an additional 600,482 shares during the period. Nordea Investment Management AB raised its stake in Prudential Financial by 49.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after purchasing an additional 567,571 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Prudential Financial by 183.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 804,316 shares of the financial services provider’s stock worth $83,440,000 after purchasing an additional 520,425 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Prudential Financial in the 2nd quarter worth approximately $40,552,000. 56.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PRU shares. Piper Sandler raised their price target on Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. Mizuho assumed coverage on Prudential Financial in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Finally, UBS Group boosted their target price on shares of Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $118.44.

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.