Thurston Springer Miller Herd & Titak Inc. Raises Holdings in Prudential Financial, Inc. (NYSE:PRU)

Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 42.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 992 shares of the financial services provider’s stock after acquiring an additional 294 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Prudential Financial were worth $120,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cullinan Associates Inc. increased its holdings in Prudential Financial by 2,355.0% during the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after purchasing an additional 145,423 shares during the period. National Bank of Canada FI increased its holdings in shares of Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after acquiring an additional 71,274 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Prudential Financial in the 4th quarter valued at about $761,000. Brookstone Capital Management increased its holdings in shares of Prudential Financial by 1,635.0% in the 1st quarter. Brookstone Capital Management now owns 87,201 shares of the financial services provider’s stock valued at $10,237,000 after acquiring an additional 82,175 shares during the last quarter. Finally, ORG Partners LLC purchased a new position in shares of Prudential Financial in the 2nd quarter valued at about $156,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PRU shares. TD Cowen started coverage on Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price objective on the stock. Piper Sandler increased their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. UBS Group upped their target price on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Wells Fargo & Company upped their target price on Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group decreased their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. One 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 company’s stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $123.69.

Prudential Financial Stock Up 0.5 %

Prudential Financial stock opened at $125.85 on Wednesday. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The stock has a 50 day moving average of $117.70 and a two-hundred day moving average of $117.27. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $45.18 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, research analysts expect that Prudential Financial, Inc. will post 13.28 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

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.