Farther Finance Advisors LLC Grows Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Farther Finance Advisors LLC raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 73.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,270 shares of the financial services provider’s stock after acquiring an additional 4,333 shares during the quarter. Farther Finance Advisors LLC’s holdings in Prudential Financial were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Creekmur Asset Management LLC increased its stake in shares of Prudential Financial by 78.8% during 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 in the last quarter. Lynx Investment Advisory acquired a new position in shares of Prudential Financial in the second quarter worth $29,000. Crewe Advisors LLC purchased a new stake in shares of Prudential Financial in the first quarter valued at $33,000. ESL Trust Services LLC acquired a new stake in shares of Prudential Financial during the first quarter valued at $34,000. Finally, Bank & Trust Co purchased a new stake in Prudential Financial during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Down 1.0 %

NYSE PRU opened at $121.28 on Monday. Prudential Financial, Inc. has a one year low of $89.90 and a one year high of $128.52. The company’s 50 day moving average price is $121.10 and its 200 day moving average price is $118.40. The firm has a market capitalization of $43.30 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 0.93 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.13 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the company earned $3.44 EPS. On average, sell-side analysts predict that Prudential Financial, Inc. will post 13.32 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.29%. Prudential Financial’s payout ratio is currently 46.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Citigroup raised their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Barclays boosted their price target on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a report on Friday. UBS Group lifted their price objective on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, TD Cowen started coverage on Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $123.77.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.