Foundry Partners LLC Buys 25,855 Shares of Prudential Financial, Inc. (NYSE:PRU)

Foundry Partners LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 12.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 240,250 shares of the financial services provider’s stock after acquiring an additional 25,855 shares during the period. Prudential Financial comprises about 0.9% of Foundry Partners LLC’s investment portfolio, making the stock its 16th largest position. Foundry Partners LLC owned 0.06% of Prudential Financial worth $25,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the company. Lincoln National Corp grew its holdings in shares of Prudential Financial by 1.5% during the second quarter. Lincoln National Corp now owns 6,524 shares of the financial services provider’s stock worth $668,000 after purchasing an additional 96 shares during the last quarter. BDO Wealth Advisors LLC lifted its stake in shares of Prudential Financial by 1.9% during the second quarter. BDO Wealth Advisors LLC now owns 5,256 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 98 shares during the period. Founders Capital Management lifted its stake in shares of Prudential Financial by 20.0% during the first quarter. Founders Capital Management now owns 600 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 100 shares during the period. Sandy Spring Bank lifted its stake in shares of Prudential Financial by 29.9% during the second quarter. Sandy Spring Bank now owns 435 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the period. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Prudential Financial by 4.8% during the second quarter. Hexagon Capital Partners LLC now owns 2,198 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 100 shares during the period. Institutional investors own 56.14% of the company’s stock.

PRU has been the topic of several research reports. Morgan Stanley upped their price target on Prudential Financial from $110.00 to $112.00 and gave the company an “equal weight” rating in a research note on Thursday, November 18th. Royal Bank of Canada increased their target price on Prudential Financial from $112.00 to $119.00 and gave the company a “sector perform” rating in a research note on Thursday, November 4th. Finally, Barclays increased their target price on Prudential Financial from $102.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, September 16th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $102.67.

NYSE:PRU opened at $109.33 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market cap of $41.33 billion, a PE ratio of 5.97, a PEG ratio of 0.77 and a beta of 1.65. Prudential Financial, Inc. has a 52-week low of $74.58 and a 52-week high of $115.52. The stock has a 50-day simple moving average of $108.87 and a 200 day simple moving average of $105.62.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, November 2nd. The financial services provider reported $3.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.68 by $1.10. The business had revenue of $19.66 billion during the quarter, compared to the consensus estimate of $13.24 billion. Prudential Financial had a return on equity of 9.33% and a net margin of 11.82%. During the same period last year, the company earned $3.21 earnings per share. On average, research analysts predict that Prudential Financial, Inc. will post 14.12 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 16th. Shareholders of record on Tuesday, November 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 4.21%. Prudential Financial’s dividend payout ratio is 25.12%.

Prudential Financial announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 9th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other Prudential Financial news, CEO Charles F. Lowrey sold 37,011 shares of the company’s stock in a transaction dated Friday, October 8th. The stock was sold at an average price of $110.00, for a total value of $4,071,210.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Timothy L. Schmidt sold 3,500 shares of the business’s stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $112.26, for a total value of $392,910.00. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Prudential Financial Profile

Prudential Financial, Inc engages in the provision of financial products and services including life insurance, annuities, mutual funds, and investment management to both individual and institutional customers. It operates through the following segments: PGIM, International Businesses, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, Closed Block, and Corporate and Others.

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