Strategic Financial Concepts LLC Buys Shares of 24,445 Prudential Financial, Inc. (NYSE:PRU)

Strategic Financial Concepts LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,445 shares of the financial services provider's stock, valued at approximately $2,897,000.

Several other large investors have also recently bought and sold shares of PRU. Consolidated Portfolio Review Corp acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $3,133,000. Buck Wealth Strategies LLC boosted its stake in Prudential Financial by 70.6% during the fourth quarter. Buck Wealth Strategies LLC now owns 6,521 shares of the financial services provider's stock worth $773,000 after buying an additional 2,699 shares in the last quarter. Private Wealth Management Group LLC increased its holdings in Prudential Financial by 119.0% in the 4th quarter. Private Wealth Management Group LLC now owns 322 shares of the financial services provider's stock valued at $38,000 after buying an additional 175 shares during the period. YANKCOM Partnership bought a new position in shares of Prudential Financial during the 4th quarter worth about $805,000. Finally, Centennial Wealth Advisory LLC boosted its position in shares of Prudential Financial by 6.4% during the 4th quarter. Centennial Wealth Advisory LLC now owns 4,297 shares of the financial services provider's stock valued at $509,000 after acquiring an additional 259 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 1.1 %

Shares of PRU stock traded up $1.20 on Thursday, reaching $112.01. 1,197,472 shares of the stock were exchanged, compared to its average volume of 1,739,199. The stock has a 50 day moving average price of $118.47 and a 200 day moving average price of $120.00. The stock has a market cap of $39.88 billion, a PE ratio of 14.99, a P/E/G ratio of 1.00 and a beta of 1.31. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Equities research analysts forecast that Prudential Financial, Inc. will post 14.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Tuesday, February 18th. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio is currently 72.29%.

Analyst Ratings Changes

PRU has been the subject of a number of analyst reports. Jefferies Financial Group raised their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. BMO Capital Markets initiated coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 target price for the company. 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 research note on Thursday, January 16th. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a report on Wednesday. Finally, Wells Fargo & Company lowered their target price on shares of Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $125.46.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The shares were bought at an average cost 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.31% of the company's stock.

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.