Principal Financial Group Inc. raised its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 419,733 shares of the financial services provider's stock after buying an additional 15,695 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Prudential Financial worth $50,830,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC raised its position in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider's stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of Prudential Financial in the second quarter worth approximately $29,000. Strategic Financial Concepts LLC grew its holdings in shares of Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider's stock valued at $32,000 after buying an additional 25,027 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Prudential Financial during the first quarter valued at approximately $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial in the 1st quarter worth approximately $34,000. Institutional investors own 56.83% of the company's stock.
Insider Activity
In related news, EVP Caroline Feeney sold 1,110 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was 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 directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the 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 sale, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on PRU. TD Cowen initiated coverage on Prudential Financial in a report on Wednesday, October 9th. They issued a "hold" rating and a $130.00 price objective for the company. Barclays lifted their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Piper Sandler lifted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $123.85.
Read Our Latest Stock Report on PRU
Prudential Financial Price Performance
Shares of NYSE:PRU traded up $3.11 during trading on Monday, hitting $125.00. 1,908,912 shares of the company's stock were exchanged, compared to its average volume of 1,500,856. The business's 50-day simple moving average is $121.48 and its 200 day simple moving average is $118.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial, Inc. has a 52-week low of $91.07 and a 52-week high of $129.13. The company has a market cap of $44.50 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.87 and a beta of 1.29.
Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the business earned $3.44 earnings per share. As a group, equities analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current year.
Prudential Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Tuesday, November 19th. Prudential Financial's dividend payout ratio (DPR) is 46.22%.
About Prudential Financial
(
Free Report)
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.
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