Perigon Wealth Management LLC Buys 249 Shares of Prudential Financial, Inc. (NYSE:PRU)

Perigon Wealth Management LLC lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,455 shares of the financial services provider’s stock after buying an additional 249 shares during the period. Perigon Wealth Management LLC’s holdings in Prudential Financial were worth $646,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Glenmede Trust Co. NA boosted its holdings in Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after acquiring an additional 1,234 shares during the last quarter. Avanza Fonder AB purchased a new position in Prudential Financial during the fourth quarter worth about $3,423,000. Gateway Investment Advisers LLC grew its position in Prudential Financial by 56.1% in 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 in the last quarter. Principal Financial Group Inc. lifted its position in shares of Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after buying an additional 15,695 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Prudential Financial by 2.3% in the 3rd 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 during the last quarter. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on PRU shares. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Piper Sandler reduced their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective on the stock. Bank of America increased their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $125.31.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $120.52 on Friday. The business’s fifty day moving average is $120.95 and its 200 day moving average is $120.67. The firm has a market cap of $42.91 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.13 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the prior year, the firm posted $3.44 earnings per share. Research analysts predict that Prudential Financial, Inc. will post 13.24 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

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.