Farther Finance Advisors LLC Purchases 4,333 Shares of Prudential Financial, Inc. (NYSE:PRU)

Farther Finance Advisors LLC increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 73.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,270 shares of the financial services provider's stock after buying an additional 4,333 shares during the quarter. Farther Finance Advisors LLC's holdings in Prudential Financial were worth $1,244,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings in shares of Prudential Financial by 9.4% in the second 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 during the period. abrdn plc boosted its stake in Prudential Financial by 4.0% in the 3rd quarter. abrdn plc now owns 1,309,155 shares of the financial services provider's stock worth $158,120,000 after purchasing an additional 50,026 shares during the period. International Assets Investment Management LLC increased its holdings in Prudential Financial by 4,130.8% during 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 purchasing an additional 1,267,571 shares in the last quarter. AustralianSuper Pty Ltd lifted its holdings in shares of Prudential Financial by 2.3% in the third quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider's stock valued at $153,312,000 after purchasing an additional 28,459 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Prudential Financial by 8.8% during the second quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider's stock worth $120,181,000 after buying an additional 82,620 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

Prudential Financial stock traded down $0.62 during mid-day trading on Monday, hitting $120.66. 1,518,473 shares of the company's stock traded hands, compared to its average volume of 1,483,131. Prudential Financial, Inc. has a fifty-two week low of $89.90 and a fifty-two week high of $128.52. The stock has a market cap of $43.08 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 0.93 and a beta of 1.29. The firm has a 50 day simple moving average of $121.16 and a two-hundred day simple moving average of $118.49. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU - Get Free Report) 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. The business had revenue of $19.48 billion during 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 posted $3.44 EPS. On average, research analysts expect that Prudential Financial, Inc. will post 13.32 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.31%. Prudential Financial's dividend payout ratio (DPR) is presently 46.22%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated 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 sale, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company's stock, valued at $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Piper Sandler boosted their target price on Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a report on Thursday, August 8th. Barclays lifted their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the company an "equal weight" rating in a research note on Friday. TD Cowen began coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They set a "hold" rating and a $130.00 price objective for the company. Finally, Citigroup lifted their target price on Prudential Financial from $104.00 to $120.00 and gave the company a "neutral" rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned 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, Prudential Financial presently has an average rating of "Hold" and a consensus price target of $123.77.

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.