Asset Allocation & Management Company LLC Acquires New Holdings in Prudential Financial, Inc. (NYSE:PRU)

Asset Allocation & Management Company LLC purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,763 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other institutional investors have also recently bought and sold shares of PRU. Ashton Thomas Securities LLC bought a new position in Prudential Financial in the third quarter valued at approximately $31,000. Quarry LP lifted its position in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares in the last quarter. Tompkins Financial Corp lifted its position in shares of Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Prudential Financial by 235.4% in the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 266 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Prudential Financial in the third quarter worth $48,000. Institutional investors own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Performance

Shares of NYSE:PRU traded up $0.65 on Monday, hitting $115.18. The company had a trading volume of 263,432 shares, compared to its average volume of 1,173,648. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The stock has a market cap of $41.00 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 0.87 and a beta of 1.31. The stock has a 50 day moving average price of $122.52 and a 200 day moving average price of $120.67. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the company posted $3.44 earnings per share. Analysts expect that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.51%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Analysts Set New Price Targets

A number of analysts have recently commented on PRU shares. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. TD Cowen boosted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Barclays boosted their price objective on shares of Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Piper Sandler boosted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Bank of America boosted their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $127.17.

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.