Insider Buying: Prudential Financial, Inc. (NYSE:PRU) EVP Acquires 111 Shares of Stock

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) EVP Caroline Feeney acquired 111 shares of the business's stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $120.31 per share, for a total transaction of $13,354.41. Following the transaction, the executive vice president now directly owns 10,540 shares in the company, valued at $1,268,067.40. The trade was a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Prudential Financial Stock Up 2.8 %

NYSE:PRU traded up $3.08 during midday trading on Monday, reaching $113.35. 1,744,976 shares of the stock traded hands, compared to its average volume of 1,433,769. The stock has a market capitalization of $40.58 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The business has a 50-day moving average of $113.51 and a two-hundred day moving average of $119.00.

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%. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

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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 issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.76%. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio is 72.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Piper Sandler cut their price target on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Barclays lifted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. BMO Capital Markets started coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. TD Cowen lifted their target price on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company raised their price target on Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $126.15.

Institutional Trading of Prudential Financial

A number of institutional investors have recently bought and sold shares of the stock. Savant Capital LLC raised its stake in shares of 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 purchasing an additional 83 shares during the last quarter. Grove Bank & Trust raised its holdings in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in 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 valued at $1,116,000 after purchasing an additional 91 shares during the period. Asset Dedication LLC boosted its holdings in Prudential Financial by 28.4% in the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 93 shares during the last quarter. Finally, Altman Advisors Inc. raised its stake in shares of Prudential Financial by 0.6% during the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock valued at $1,907,000 after buying an additional 94 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

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.