Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Mariner LLC

Mariner LLC increased its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,476,899 shares of the financial services provider's stock after acquiring an additional 52,010 shares during the quarter. Mariner LLC owned approximately 0.41% of Prudential Financial worth $175,051,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PRU. Savant Capital LLC boosted its holdings in Prudential Financial by 0.6% in the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after acquiring an additional 83 shares in the last quarter. Grove Bank & Trust raised its stake in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after acquiring an additional 87 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Prudential Financial by 1.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock worth $1,116,000 after purchasing an additional 91 shares during the period. Asset Dedication LLC increased its holdings in Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock worth $50,000 after buying an additional 93 shares during the period. Finally, Altman Advisors Inc. raised its position in Prudential Financial by 0.6% during the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock worth $1,907,000 after buying an additional 94 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PRU. JPMorgan Chase & Co. reduced their price target on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. BMO Capital Markets began coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective for the company. Wells Fargo & Company lowered their price target on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Finally, Piper Sandler dropped their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $121.85.

Prudential Financial Trading Up 0.8 %

NYSE PRU traded up $0.77 during trading hours on Friday, reaching $99.39. The company had a trading volume of 1,480,033 shares, compared to its average volume of 1,600,586. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The stock has a market capitalization of $35.23 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The stock has a 50-day moving average of $107.93 and a 200 day moving average of $117.03. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 5.43%. The ex-dividend date was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is presently 72.29%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of Prudential Financial stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the transaction, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. The trade was a 60.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

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.