Insider Buying: Prudential Financial (NYSE:PRU) Director Buys $42,128.00 in Stock

Prudential Financial, Inc. (NYSE:PRU) Director Joseph Wolk acquired 400 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were purchased at an average price of $105.32 per share, for a total transaction of $42,128.00. Following the purchase, the director directly owned 400 shares of the company’s stock, valued at $42,128. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Prudential Financial Stock Up 0.4%

PRU stock opened at $104.58 on Friday. The firm’s 50-day simple moving average is $111.87 and its 200 day simple moving average is $107.40. The stock has a market cap of $36.60 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $119.76.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.The company had revenue of $15.69 billion during the quarter, compared to analyst estimates of $14.48 billion. During the same period in the prior year, the company posted $2.96 earnings per share. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.4%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s dividend payout ratio is currently 54.00%.

Institutional Trading of Prudential Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Global Investments lifted its holdings in Prudential Financial by 71.1% in the third quarter. Summit Global Investments now owns 13,021 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 5,412 shares during the last quarter. Mattson Financial Services LLC boosted its position in Prudential Financial by 312.8% during the 3rd quarter. Mattson Financial Services LLC now owns 12,119 shares of the financial services provider’s stock valued at $1,257,000 after purchasing an additional 9,183 shares during the period. Machina Capital S.A.S. bought a new position in Prudential Financial during the 3rd quarter worth $1,285,000. First Horizon Corp acquired a new stake in Prudential Financial in the third quarter worth $5,856,000. Finally, Econ Financial Services Corp bought a new stake in Prudential Financial in the second quarter valued at $1,662,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRU has been the subject of several recent analyst reports. UBS Group upped their price target on Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Keefe, Bruyette & Woods upped their price target on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. cut their price objective on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Mizuho decreased their target price on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. Finally, Piper Sandler boosted their price target on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $117.11.

About Prudential Financial

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.