Brighton Jones LLC increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,681 shares of the financial services provider’s stock after buying an additional 133 shares during the quarter. Brighton Jones LLC’s holdings in Prudential Financial were worth $436,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Hengehold Capital Management LLC increased its holdings in Prudential Financial by 0.7% in the 4th quarter. Hengehold Capital Management LLC now owns 41,038 shares of the financial services provider’s stock valued at $4,864,000 after buying an additional 278 shares during the period. Donoghue Forlines LLC bought a new stake in Prudential Financial during the fourth quarter worth $1,529,000. Avior Wealth Management LLC raised its holdings in shares of Prudential Financial by 1.5% during the 4th quarter. Avior Wealth Management LLC now owns 8,250 shares of the financial services provider’s stock worth $978,000 after buying an additional 124 shares in the last quarter. Adirondack Trust Co. boosted its stake in Prudential Financial by 3.6% in the fourth quarter. Adirondack Trust Co. now owns 3,649 shares of the financial services provider’s stock valued at $432,000 after buying an additional 126 shares in the last quarter. Finally, Magnus Financial Group LLC grew its position in Prudential Financial by 12.4% in the fourth quarter. Magnus Financial Group LLC now owns 2,210 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 244 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on PRU. TD Cowen upped their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Wells Fargo & Company dropped their price target on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group boosted their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. BMO Capital Markets began coverage on Prudential Financial in a research report on Thursday. They issued an “underperform” rating and a $101.00 target price for the company. Finally, Bank of America upped their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $125.31.
Insider Activity
In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.
Prudential Financial Stock Up 0.3 %
Prudential Financial stock opened at $117.22 on Monday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $41.73 billion, a PE ratio of 10.42, a PEG ratio of 1.09 and a beta of 1.31. The firm’s fifty day moving average is $121.29 and its 200 day moving average is $120.68. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55.
Prudential Financial (NYSE:PRU – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the business posted $3.44 EPS. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.
Prudential Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Tuesday, November 19th. 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.
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