Commonwealth Retirement Investments LLC Buys 353 Shares of Prudential Financial, Inc. (NYSE:PRU)

Commonwealth Retirement Investments LLC increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,151 shares of the financial services provider’s stock after buying an additional 353 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Prudential Financial were worth $1,714,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PRU. International Assets Investment Management LLC grew its position in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after buying an additional 1,267,571 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Prudential Financial by 97.4% during the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after purchasing an additional 357,300 shares during the last quarter. Swedbank AB purchased a new stake in shares of Prudential Financial in the 1st quarter worth approximately $35,855,000. Legal & General Group Plc increased its position in Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after buying an additional 305,143 shares in the last quarter. Finally, Capital Advisors Inc. OK purchased a new position in Prudential Financial during the third quarter valued at $30,226,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PRU shares. Barclays raised their price target on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Morgan Stanley lowered their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. TD Cowen initiated coverage on Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, Citigroup lifted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $123.85.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU traded up $0.34 during trading hours on Tuesday, reaching $125.34. 129,720 shares of the stock traded hands, compared to its average volume of 1,494,595. Prudential Financial, Inc. has a 52-week low of $91.07 and a 52-week high of $129.13. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market cap of $44.62 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 0.87 and a beta of 1.29. The company’s 50-day moving average price is $121.55 and its two-hundred day moving average price is $118.91.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the firm earned $3.44 earnings per share. On average, analysts anticipate that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

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.