Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,001 shares of the financial services provider’s stock after purchasing an additional 337 shares during the period. Wellington Management Group LLP’s holdings in Prudential Financial were worth $4,045,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Cambridge Trust Co. raised its holdings in shares of Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Prudential Financial in the fourth quarter valued at $26,000. Headinvest LLC acquired a new stake in Prudential Financial during the 3rd quarter valued at $27,000. Arlington Trust Co LLC increased its stake in Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after buying an additional 185 shares during the period. Finally, Pineridge Advisors LLC purchased a new position in Prudential Financial in the 4th quarter valued at about $36,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRU has been the topic of several recent analyst reports. Jefferies Financial Group cut their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday. Evercore ISI raised their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Wells Fargo & Company upped their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Piper Sandler decreased their price objective 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. Finally, Morgan Stanley increased their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $115.08.

Prudential Financial Stock Performance

Shares of PRU opened at $117.19 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 1 year low of $86.69 and a 1 year high of $121.39. The firm has a fifty day moving average of $116.38 and a 200-day moving average of $110.91. The company has a market cap of $42.07 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35.

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

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the stock in a transaction on Thursday, June 20th. The shares were purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. Corporate insiders own 0.31% 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.