Prudential Financial, Inc. $PRU Shares Bought by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 24.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,729 shares of the financial services provider’s stock after buying an additional 13,653 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Prudential Financial were worth $7,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. raised its stake in shares of Prudential Financial by 4.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 32,387 shares of the financial services provider’s stock valued at $3,360,000 after acquiring an additional 1,287 shares during the period. Summit Global Investments increased its position in shares of Prudential Financial by 71.1% in the 3rd quarter. Summit Global Investments now owns 13,021 shares of the financial services provider’s stock valued at $1,351,000 after purchasing an additional 5,412 shares during the last quarter. Strategic Advisors LLC raised its stake in Prudential Financial by 17.0% in the third quarter. Strategic Advisors LLC now owns 10,315 shares of the financial services provider’s stock valued at $1,070,000 after buying an additional 1,500 shares in the last quarter. AE Wealth Management LLC raised its holdings in Prudential Financial by 7.0% during the third quarter. AE Wealth Management LLC now owns 228,696 shares of the financial services provider’s stock worth $23,725,000 after purchasing an additional 14,901 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in Prudential Financial by 228.7% in the third quarter. Fidelis Capital Partners LLC now owns 6,767 shares of the financial services provider’s stock valued at $702,000 after acquiring an additional 4,708 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 6,555 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $116.28, for a total transaction of $762,215.40. Following the sale, the executive vice president directly owned 22,523 shares in the company, valued at $2,618,974.44. This represents a 22.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 62,719 shares of company stock worth $6,796,067 in the last ninety days. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PRU. Morgan Stanley increased their price objective on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Evercore ISI boosted their target price on Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Piper Sandler raised their price target on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, Mizuho initiated coverage on Prudential Financial in a report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 target price for the company. One research analyst has rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $120.78.

Prudential Financial Stock Up 2.0%

Prudential Financial stock opened at $109.82 on Friday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $123.41. The firm has a market capitalization of $38.44 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The stock’s fifty day moving average is $112.69 and its two-hundred day moving average is $107.29. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $4.26 EPS for the quarter, beating analysts’ consensus estimates of $3.72 by $0.54. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. The firm had revenue of $17.89 billion for the quarter, compared to analysts’ expectations of $13.77 billion. During the same period in the prior year, the company earned $3.48 EPS. Analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s dividend payout ratio is currently 74.18%.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.