Allworth Financial LP Has $1.28 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Allworth Financial LP grew its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 96.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,919 shares of the financial services provider's stock after acquiring an additional 5,370 shares during the quarter. Allworth Financial LP's holdings in Prudential Financial were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PRU. Grove Bank & Trust raised its stake in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial in the third quarter valued at $31,000. CGC Financial Services LLC raised its stake in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new position in shares of Prudential Financial in the fourth quarter valued at $33,000. Finally, Quarry LP raised its stake in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 222 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company's stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods cut their target price on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th. Barclays increased their price objective 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. Evercore ISI upgraded Prudential Financial from an "underperform" rating to an "inline" rating and increased their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. 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 report on Wednesday. Finally, Piper Sandler decreased their price target on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $125.69.

Prudential Financial Trading Down 1.5 %

PRU traded down $1.68 during midday trading on Friday, reaching $109.45. 1,575,421 shares of the company were exchanged, compared to its average volume of 1,697,518. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The stock has a market capitalization of $39.18 billion, a P/E ratio of 14.65, a PEG ratio of 0.99 and a beta of 1.31. The stock's 50-day simple moving average is $117.10 and its 200 day simple moving average is $119.59.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS 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, analysts forecast that Prudential Financial, Inc. will post 14.34 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.93%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.

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.