Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,555 shares of the financial services provider’s stock after acquiring an additional 102 shares during the period. Verdence Capital Advisors LLC’s holdings in Prudential Financial were worth $309,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Creekmur Asset Management LLC raised its position in Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial in the second quarter valued at about $29,000. Strategic Financial Concepts LLC raised its holdings in shares of Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares during the period. Crewe Advisors LLC acquired a new position in Prudential Financial during the 1st quarter worth approximately $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.4 %

Shares of Prudential Financial stock opened at $125.49 on Wednesday. Prudential Financial, Inc. has a 1-year low of $91.07 and a 1-year high of $129.13. The company has a market capitalization of $44.67 billion, a P/E ratio of 11.11, a PEG ratio of 0.87 and a beta of 1.29. The business’s fifty day moving average price is $121.55 and its two-hundred day moving average price is $118.91. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its earnings results 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. 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 during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the firm posted $3.44 EPS. As a group, research analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given 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 4.14%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Wall Street Analyst Weigh In

PRU has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Bank of America lifted their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays raised their price objective on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. UBS Group boosted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $123.85.

Insider Activity

In other news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

About Prudential Financial

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.