Graney & King LLC Takes Position in Prudential Financial, Inc. (NYSE:PRU)

Graney & King LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, Holdings Channel.com reports. The firm bought 466 shares of the financial services provider’s stock, valued at approximately $55,000.

Several other institutional investors also recently bought and sold shares of PRU. Savant Capital LLC increased its holdings in shares of Prudential Financial by 0.6% during the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,705,000 after acquiring an additional 83 shares during the last quarter. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. HBK Sorce Advisory LLC lifted its stake in shares of Prudential Financial by 1.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock worth $1,116,000 after buying an additional 91 shares during the last quarter. Asset Dedication LLC grew its stake in Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after buying an additional 93 shares during the last quarter. Finally, RNC Capital Management LLC raised its holdings in Prudential Financial by 3.3% in the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock worth $354,000 after acquiring an additional 95 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PRU has been the topic of several research analyst reports. Piper Sandler lowered their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Barclays raised their target price on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Morgan Stanley reduced their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. TD Cowen raised their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $126.15.

Insider Transactions at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Trading Up 1.0 %

PRU stock opened at $114.32 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market cap of $40.93 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 1-year low of $104.45 and a 1-year high of $130.55. The business’s 50 day moving average is $113.44 and its 200-day moving average is $119.01.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data 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 return on equity of 15.86% and a net margin of 4.01%. Equities analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.72%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is 72.29%.

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.