Prudential Financial, Inc. (NYSE:PRU) Stake Boosted by Verity & Verity LLC

Verity & Verity LLC grew its position in Prudential Financial, Inc. (NYSE:PRU) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,701 shares of the financial services provider’s stock after buying an additional 8,778 shares during the quarter. Prudential Financial makes up approximately 2.0% of Verity & Verity LLC’s portfolio, making the stock its 16th largest position. Verity & Verity LLC’s holdings in Prudential Financial were worth $21,656,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PRU. Edgestream Partners L.P. purchased a new position in Prudential Financial during the 2nd quarter worth approximately $258,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of Prudential Financial by 0.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 34,074 shares of the financial services provider’s stock valued at $3,993,000 after buying an additional 291 shares in the last quarter. Blair William & Co. IL raised its position in Prudential Financial by 148.4% during the second quarter. Blair William & Co. IL now owns 26,585 shares of the financial services provider’s stock valued at $3,116,000 after buying an additional 15,884 shares during the period. Intech Investment Management LLC boosted its position in Prudential Financial by 70.8% during the 2nd quarter. Intech Investment Management LLC now owns 17,570 shares of the financial services provider’s stock worth $2,059,000 after acquiring an additional 7,281 shares during the period. Finally, Brighton Jones LLC grew its stake in Prudential Financial by 3.0% during the 2nd quarter. Brighton Jones LLC now owns 3,536 shares of the financial services provider’s stock valued at $414,000 after acquiring an additional 103 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Prudential Financial Trading Up 0.5 %

Shares of PRU stock opened at $118.98 on Friday. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55. The company has a market cap of $42.36 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $122.12 and its two-hundred day moving average is $120.65.

Prudential Financial (NYSE:PRU) last announced 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. 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 the consensus estimate of $14.57 billion. During the same quarter last year, the firm posted $3.44 EPS. Equities analysts predict that Prudential Financial, Inc. will post 13.34 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Wall Street Analyst Weigh In

Several analysts recently commented on PRU shares. Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a report on Thursday. TD Cowen lifted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Barclays dropped their price target on shares of Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Friday. Jefferies Financial Group boosted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler cut their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $127.25.

About Prudential Financial

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.