Heritage Investors Management Corp Makes New $505,000 Investment in Prudential Financial, Inc. $PRU

Heritage Investors Management Corp acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,449 shares of the financial services provider’s stock, valued at approximately $505,000.

A number of other hedge funds also recently made changes to their positions in the stock. Plimoth Trust Co. LLC grew its position in Prudential Financial by 2.4% in the second quarter. Plimoth Trust Co. LLC now owns 3,860 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 90 shares in the last quarter. Security National Bank of SO Dak raised its position in Prudential Financial by 0.6% during the second quarter. Security National Bank of SO Dak now owns 14,676 shares of the financial services provider’s stock valued at $1,584,000 after purchasing an additional 90 shares in the last quarter. XXI Wealth LLC raised its position in Prudential Financial by 5.0% during the third quarter. XXI Wealth LLC now owns 1,967 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 93 shares in the last quarter. Prosperitas Financial LLC lifted its stake in Prudential Financial by 4.6% during the third quarter. Prosperitas Financial LLC now owns 2,186 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 96 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. lifted its stake in Prudential Financial by 34.8% during the second quarter. Keating Financial Advisory Services Inc. now owns 395 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 102 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann Kappler sold 7,652 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the sale, the executive vice president directly owned 14,407 shares of the company’s stock, valued at $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PRU shares. Mizuho set a $108.00 price objective on Prudential Financial in a research report on Monday, October 12th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Prudential Financial from $105.00 to $102.00 and set a “hold” rating on the stock in a research report on Friday, October 23rd. Piper Sandler decreased their price target on shares of Prudential Financial from $128.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $123.00 to $119.00 and set a “market perform” rating for the company in a report on Friday, October 16th. Finally, BMO Capital Markets boosted their price objective on shares of Prudential Financial from $90.00 to $120.00 and gave the stock an “underperform” rating in a report on Friday, August 21st. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $111.27.

Prudential Financial Stock Up 1.6%

NYSE PRU opened at $118.34 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $40.83 billion, a PE ratio of 10.72, a PEG ratio of 1.93 and a beta of 0.85. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $127.72. The business’s 50-day moving average is $116.91 and its 200 day moving average is $108.80.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.56. The business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same quarter in the previous year, the business posted $3.58 earnings per share. Sell-side analysts forecast that Prudential Financial, Inc. will post 13.51 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, August 25th. This represents a $5.60 annualized dividend and a dividend yield of 4.7%. Prudential Financial’s payout ratio is currently 50.72%.

Prudential Financial Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.