Prudential Financial (NYSE:PRU) Director Thomas Stoddard Purchases 250 Shares

Prudential Financial, Inc. (NYSE:PRU) Director Thomas Stoddard acquired 250 shares of Prudential Financial stock in a transaction that occurred on Tuesday, February 17th. The stock was bought at an average price of $102.97 per share, with a total value of $25,742.50. Following the purchase, the director directly owned 250 shares of the company’s stock, valued at approximately $25,742.50. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Prudential Financial Price Performance

Shares of PRU stock traded up $1.60 during midday trading on Wednesday, reaching $104.87. 531,868 shares of the company traded hands, compared to its average volume of 2,231,267. The firm’s 50 day simple moving average is $111.57 and its two-hundred day simple moving average is $107.46. The firm has a market cap of $36.50 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $119.76.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.07). The firm had revenue of $15.69 billion during the quarter, compared to analysts’ expectations of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same period in the previous year, the business earned $2.96 earnings per share. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be given a $1.40 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $5.60 annualized dividend and a dividend yield of 5.3%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s payout ratio is presently 54.00%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PRU shares. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. JPMorgan Chase & Co. reduced their target price on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. Evercore dropped their price target on Prudential Financial from $122.00 to $110.00 and set an “in-line” rating for the company in a research report on Thursday, February 5th. Piper Sandler upped their price objective on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Finally, Wells Fargo & Company lifted their price objective on Prudential Financial from $113.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $117.11.

Hedge Funds Weigh In On Prudential Financial

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Prudential Financial by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock valued at $4,566,432,000 after acquiring an additional 600,482 shares during the last quarter. State Street Corp increased its position in Prudential Financial by 1.2% during the fourth quarter. State Street Corp now owns 17,234,061 shares of the financial services provider’s stock worth $1,945,381,000 after purchasing an additional 210,959 shares during the last quarter. Geode Capital Management LLC raised its stake in Prudential Financial by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 9,533,806 shares of the financial services provider’s stock worth $1,078,904,000 after purchasing an additional 26,414 shares during the period. Morgan Stanley boosted its holdings in shares of Prudential Financial by 6.7% in the 4th quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock valued at $750,562,000 after purchasing an additional 420,081 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Prudential Financial by 2.4% during the 3rd quarter. Legal & General Group Plc now owns 2,701,116 shares of the financial services provider’s stock valued at $280,214,000 after buying an additional 62,366 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

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.