Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 7.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,033 shares of the financial services provider’s stock after acquiring an additional 290 shares during the period. Flagship Harbor Advisors LLC’s holdings in Prudential Financial were worth $478,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PRU. Grove Bank & Trust lifted its stake in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial during the 3rd quarter worth about $31,000. Quarry LP grew its stake in Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Prudential Financial in the fourth quarter worth about $37,000. Finally, Tompkins Financial Corp lifted its holdings in shares of Prudential Financial by 61.7% during the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on PRU shares. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. Barclays boosted their target price on shares of Prudential Financial from $127.00 to $128.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price target on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group boosted their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Bank of America lifted their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $125.31.

Check Out Our Latest Analysis on Prudential Financial

Prudential Financial Stock Performance

NYSE:PRU opened at $121.12 on Wednesday. The company has a fifty day moving average of $121.14 and a two-hundred day moving average of $120.67. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. The stock has a market capitalization of $43.12 billion, a PE ratio of 10.77, a P/E/G ratio of 1.09 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 (NYSE:PRUGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share 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 firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the company posted $3.44 EPS. As a group, research analysts forecast that Prudential Financial, Inc. will post 13.24 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Prudential Financial Profile

(Free Report)

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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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