Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Nemes Rush Group LLC

Nemes Rush Group LLC raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,607 shares of the financial services provider’s stock after buying an additional 533 shares during the quarter. Nemes Rush Group LLC’s holdings in Prudential Financial were worth $902,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PRU. Grove Bank & Trust raised its stake in Prudential Financial by 65.9% in the 4th 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 during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Prudential Financial during the fourth quarter valued at approximately $29,000. CGC Financial Services LLC boosted its position 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 worth $33,000 after acquiring an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Prudential Financial in the 4th quarter valued at $33,000. Finally, Quarry LP lifted its stake in shares of Prudential Financial by 376.3% during 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 during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was acquired at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the acquisition, the insider now directly owns 139,987 shares of the company’s stock, valued at $3,992,429.24. The trade was a 60.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Up 1.5 %

Shares of Prudential Financial stock opened at $111.77 on Tuesday. The company has a market capitalization of $40.01 billion, a PE ratio of 14.96, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 1-year low of $104.45 and a 1-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 0.16. The business has a 50-day moving average of $112.95 and a 200-day moving average of $118.95.

Prudential Financial (NYSE:PRU) last released its 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 net margin of 4.01% and a return on equity of 15.86%. As a group, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.83%. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

Analyst Upgrades and Downgrades

PRU has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. 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 report on Wednesday, February 5th. Finally, Piper Sandler dropped their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $126.15.

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.