Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Lincoln National Corp

Lincoln National Corp grew its position in Prudential Financial, Inc. (NYSE:PRUGet Rating) by 5.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,090 shares of the financial services provider’s stock after acquiring an additional 520 shares during the period. Lincoln National Corp’s holdings in Prudential Financial were worth $866,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Total Clarity Wealth Management Inc. acquired a new position in shares of Prudential Financial in the second quarter worth about $25,000. Wagner Wealth Management LLC acquired a new position in shares of Prudential Financial in the second quarter worth about $26,000. Fairfield Bush & CO. acquired a new position in shares of Prudential Financial in the first quarter worth about $36,000. Pacific Center for Financial Services acquired a new position in shares of Prudential Financial in the second quarter worth about $31,000. Finally, Janiczek Wealth Management LLC raised its position in shares of Prudential Financial by 89.6% in the second quarter. Janiczek Wealth Management LLC now owns 366 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 173 shares during the period. Institutional investors and hedge funds own 56.33% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Prudential Financial from $110.00 to $106.00 and set a “neutral” rating for the company in a research report on Tuesday, December 20th. The Goldman Sachs Group cut shares of Prudential Financial from a “neutral” rating to a “sell” rating and cut their target price for the stock from $98.00 to $96.00 in a research note on Monday, January 9th. StockNews.com raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, November 2nd. Wells Fargo & Company cut their target price on shares of Prudential Financial from $101.00 to $97.00 and set an “underweight” rating for the company in a research note on Wednesday, January 18th. Finally, Royal Bank of Canada boosted their target price on shares of Prudential Financial from $102.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 3rd. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $103.08.

Insider Transactions at Prudential Financial

In other news, EVP Ann M. Kappler sold 3,609 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $108.62, for a total value of $392,009.58. Following the transaction, the executive vice president now directly owns 9,779 shares in the company, valued at approximately $1,062,194.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Ann M. Kappler sold 3,609 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $108.62, for a total value of $392,009.58. Following the transaction, the executive vice president now directly owns 9,779 shares in the company, valued at approximately $1,062,194.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Prudential Financial Inc acquired 285,715 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was bought at an average price of $35.00 per share, for a total transaction of $10,000,025.00. Following the completion of the acquisition, the insider now owns 285,715 shares in the company, valued at approximately $10,000,025. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

Prudential Financial stock opened at $100.88 on Wednesday. The firm has a 50 day simple moving average of $102.01 and a 200-day simple moving average of $99.00. Prudential Financial, Inc. has a 1-year low of $85.46 and a 1-year high of $124.22. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market cap of $37.53 billion, a price-to-earnings ratio of 140.11 and a beta of 1.42.

Prudential Financial (NYSE:PRUGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The financial services provider reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.08). Prudential Financial had a net margin of 0.52% and a return on equity of 10.20%. The firm had revenue of $21.61 billion during the quarter, compared to analysts’ expectations of $12.76 billion. On average, analysts expect that Prudential Financial, Inc. will post 10.08 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd were issued a $1.20 dividend. The ex-dividend date was Monday, November 21st. This represents a $4.80 annualized dividend and a dividend yield of 4.76%. Prudential Financial’s dividend payout ratio is currently 666.67%.

Prudential Financial Company Profile

(Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

Recommended Stories

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRUGet Rating).

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

Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.