Caroline Feeney Acquires 111 Shares of Prudential Financial, Inc. (NYSE:PRU) Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney purchased 111 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $120.31 per share, with a total value of $13,354.41. Following the completion of the purchase, the executive vice president now owns 10,540 shares of the company’s stock, valued at approximately $1,268,067.40. This represents a 1.06 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Prudential Financial Stock Performance

Shares of PRU opened at $110.35 on Friday. The stock has a 50 day moving average of $113.57 and a 200 day moving average of $119.05. The company has a market capitalization of $39.51 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, sell-side analysts forecast 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 was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s dividend payout ratio is currently 72.29%.

Hedge Funds Weigh In On Prudential Financial

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Piper Sandler reduced their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays upped their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Finally, TD Cowen upped their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $126.15.

Prudential Financial Company Profile

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.