Diversified Trust Co. Acquires New Position in Prudential Financial, Inc. $PRU

Diversified Trust Co. bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,749 shares of the financial services provider’s stock, valued at approximately $875,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wealth Watch Advisors INC purchased a new stake in shares of Prudential Financial during the third quarter worth $30,000. Chilton Capital Management LLC raised its stake in shares of Prudential Financial by 146.5% in the third quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 208 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Prudential Financial in the second quarter valued at $36,000. AlphaCore Capital LLC acquired a new position in Prudential Financial during the 2nd quarter worth $39,000. Finally, Capital A Wealth Management LLC increased its holdings in Prudential Financial by 4,600.0% during 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 period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PRU shares. Barclays decreased their price objective on Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 11th. 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 note on Tuesday, December 23rd. Wells Fargo & Company downgraded shares of Prudential Financial from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $115.00 to $103.00 in a research note on Wednesday, February 25th. Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Prudential Financial in a research report on Thursday. They issued a “market perform” rating and a $106.00 price objective on the stock. Nine equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $113.89.

Prudential Financial Trading Down 0.1%

PRU opened at $95.15 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $119.76. The company has a market cap of $33.11 billion, a P/E ratio of 9.52, a PEG ratio of 1.17 and a beta of 0.98. The business’s 50-day simple moving average is $101.53 and its 200-day simple moving average is $105.68.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.07). The business had revenue of $14.52 billion for 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 quarter in the previous year, the firm earned $2.96 EPS. As a group, equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s dividend payout ratio (DPR) is currently 56.00%.

Insider Activity at Prudential Financial

In related news, EVP Jacques Chappuis acquired 1,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was bought at an average price of $100.97 per share, for a total transaction of $100,970.00. Following the completion of the purchase, the executive vice president directly owned 1,000 shares of the company’s stock, valued at approximately $100,970. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas D. Stoddard acquired 250 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were purchased at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the acquisition, the director owned 250 shares of the company’s stock, valued at approximately $25,742.50. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 1,408,389 shares of company stock valued at $35,154,439. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial 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.