Prudential Financial, Inc. (NYSE:PRU) Major Shareholder Buys $1,500,009.40 in Stock

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now directly owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. The trade was a 60.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Insurance Co Of Ame Prudential also recently made the following trade(s):

• On Wednesday, March 12th, Insurance Co Of Ame Prudential acquired 87,047 shares of Prudential Financial stock. The stock was purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84.

Prudential Financial Stock Performance

PRU traded up $1.70 on Monday, hitting $111.77. 1,892,917 shares of the company's stock were exchanged, compared to its average volume of 1,539,831. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average of $113.09 and a two-hundred day moving average of $118.98. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The firm has a market cap of $40.01 billion, a PE ratio of 14.96, a P/E/G ratio of 0.98 and a beta of 1.28.

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Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate 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, research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.83%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio (DPR) is presently 72.29%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRU. Barclays increased their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Piper Sandler cut their price objective 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. Finally, Morgan Stanley lowered their target price on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $126.15.

Institutional Trading of Prudential Financial

Several large investors have recently added to or reduced their stakes in PRU. Fire Capital Management LLC acquired a new position in shares of Prudential Financial during the fourth quarter valued at $202,000. Wealth Enhancement Advisory Services LLC increased its stake in Prudential Financial by 46.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 77,265 shares of the financial services provider's stock valued at $9,158,000 after buying an additional 24,682 shares during the period. Siemens Fonds Invest GmbH lifted its stake in shares of Prudential Financial by 3.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 3,954 shares of the financial services provider's stock worth $467,000 after acquiring an additional 143 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Prudential Financial in the fourth quarter valued at approximately $25,796,000. Finally, REAP Financial Group LLC raised its holdings in Prudential Financial by 70.6% during the fourth quarter. REAP Financial Group LLC now owns 394 shares of the financial services provider's stock worth $47,000 after purchasing an additional 163 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

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.