Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Private Wealth Management Group LLC

Private Wealth Management Group LLC grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 119.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 322 shares of the financial services provider’s stock after buying an additional 175 shares during the quarter. Private Wealth Management Group LLC’s holdings in Prudential Financial were worth $38,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its holdings in shares of Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after buying an additional 1,234 shares during the period. Avanza Fonder AB purchased a new stake in shares of Prudential Financial during the 4th quarter worth $3,423,000. Gateway Investment Advisers LLC grew its stake in shares of Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after purchasing an additional 7,907 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Prudential Financial by 2.3% during the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after buying an additional 1,765 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Prudential Financial stock opened at $113.90 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $40.55 billion, a P/E ratio of 10.12, a PEG ratio of 1.12 and a beta of 1.31. The stock has a fifty day moving average price of $120.38 and a 200 day moving average price of $120.46. Prudential Financial, Inc. has a 52 week low of $102.67 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.24 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors 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 is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.74%. Prudential Financial’s payout ratio is 46.22%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PRU shares. 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 report on Wednesday. TD Cowen boosted their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Wells Fargo & Company cut their price target on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $125.77.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

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.