Realta Investment Advisors Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Realta Investment Advisors acquired a new position in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,876 shares of the financial services provider’s stock, valued at approximately $224,000.

Other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust grew its holdings in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial during the third quarter worth $31,000. CGC Financial Services LLC grew its stake in Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 124 shares in the last quarter. Quarry LP lifted its stake in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Prudential Financial during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.6 %

Shares of NYSE PRU opened at $112.80 on Friday. Prudential Financial, Inc. has a twelve month low of $104.02 and a twelve month high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $119.75 and a two-hundred day simple moving average of $120.37. The firm has a market cap of $40.16 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (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%. Analysts expect that Prudential Financial, Inc. will post 13.24 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business 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 $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.79%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s payout ratio is presently 46.22%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PRU shares. Piper Sandler decreased their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday, January 16th. Barclays boosted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective for the company. Finally, Jefferies Financial Group upped their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $125.77.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is 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.