Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp increased its position in Prudential Financial, Inc. (NYSE:PRU) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,812 shares of the financial services provider’s stock after buying an additional 3,201 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Prudential Financial were worth $9,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Glenmede Trust Co. NA boosted its position in Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 1,234 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after acquiring an additional 15,695 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Prudential Financial by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after purchasing an additional 1,765 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Prudential Financial by 4.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after acquiring an additional 6,641 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Prudential Financial by 18.7% during the third quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock valued at $8,395,000 after purchasing an additional 10,964 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU opened at $120.10 on Thursday. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55. 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 firm has a market cap of $42.76 billion, a PE ratio of 10.68, a P/E/G ratio of 0.75 and a beta of 1.31. The stock has a fifty day moving average price of $122.38 and a 200-day moving average price of $120.67.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business earned $3.44 earnings per share. Equities research analysts predict that Prudential Financial, Inc. will post 13.34 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday. Barclays boosted their price target on Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Jefferies Financial Group raised their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler lifted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen upped their target price 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. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $127.00.

Prudential Financial 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.