Prospera Financial Services Inc Has $1.03 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Prospera Financial Services Inc grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,466 shares of the financial services provider’s stock after purchasing an additional 318 shares during the period. Prospera Financial Services Inc’s holdings in Prudential Financial were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Verity & Verity LLC raised its stake in Prudential Financial by 1.1% during the 3rd quarter. Verity & Verity LLC now owns 173,923 shares of the financial services provider’s stock worth $21,062,000 after buying an additional 1,817 shares during the period. Caprock Group LLC lifted its holdings in shares of Prudential Financial by 5.2% in the 3rd quarter. Caprock Group LLC now owns 9,679 shares of the financial services provider’s stock worth $1,172,000 after purchasing an additional 479 shares in the last quarter. Aviance Capital Partners LLC grew its position in Prudential Financial by 3.9% in the 3rd quarter. Aviance Capital Partners LLC now owns 3,674 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 138 shares during the period. Swiss National Bank lifted its stake in shares of Prudential Financial by 0.3% in the third quarter. Swiss National Bank now owns 1,065,600 shares of the financial services provider’s stock valued at $129,044,000 after buying an additional 2,700 shares in the last quarter. Finally, Tower Bridge Advisors lifted its stake in shares of Prudential Financial by 14.0% in the third quarter. Tower Bridge Advisors now owns 8,542 shares of the financial services provider’s stock valued at $1,034,000 after buying an additional 1,050 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This represents a 6.61 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PRU. UBS Group upped their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Bank of America raised their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler raised their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average target price of $125.69.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $127.92 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $123.30 and a two-hundred day simple moving average of $119.70. Prudential Financial, Inc. has a 1-year low of $94.92 and a 1-year high of $129.13. The firm has a market cap of $45.54 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the business posted $3.44 EPS. Analysts anticipate that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.07%. Prudential Financial’s dividend 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.