Fairman Group LLC Takes Position in Prudential Financial, Inc. (NYSE:PRU)

Fairman Group LLC bought a new stake in Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 365 shares of the financial services provider’s stock, valued at approximately $38,000.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in Prudential Financial by 3.6% during the third quarter. PNC Financial Services Group Inc. now owns 107,737 shares of the financial services provider’s stock worth $10,223,000 after purchasing an additional 3,783 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Prudential Financial by 37.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 111,592 shares of the financial services provider’s stock valued at $10,540,000 after purchasing an additional 30,186 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Prudential Financial by 7.8% during the 3rd quarter. Checchi Capital Advisers LLC now owns 4,694 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 340 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Prudential Financial in the third quarter valued at $1,304,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Prudential Financial during the third quarter worth about $1,424,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley increased their price target on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Evercore ISI lifted their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Piper Sandler cut their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Wells Fargo & Company boosted their target price on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Finally, Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $121.00 to $143.00 in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $115.25.

Insiders Place Their Bets

In other news, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the transaction, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now owns 12,236 shares in the company, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Prudential Financial Stock Performance

Shares of PRU opened at $115.67 on Wednesday. Prudential Financial, Inc. has a 12-month low of $83.34 and a 12-month high of $121.39. The stock has a market cap of $41.53 billion, a P/E ratio of 19.67, a PEG ratio of 0.86 and a beta of 1.35. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average of $115.10 and a two-hundred day moving average of $109.99.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the previous year, the company posted $2.66 EPS. Prudential Financial’s quarterly revenue was up 69.9% compared to the same quarter last year. As a group, research analysts predict that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were issued a $1.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.50%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

About Prudential Financial

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.