Joseph Wolk Purchases 400 Shares of Prudential Financial (NYSE:PRU) Stock

Prudential Financial, Inc. (NYSE:PRU) Director Joseph Wolk bought 400 shares of the stock in a transaction on Wednesday, February 11th. The shares were bought at an average price of $105.32 per share, with a total value of $42,128.00. Following the acquisition, the director owned 400 shares of the company’s stock, valued at $42,128. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Prudential Financial Trading Up 0.4%

Shares of NYSE:PRU opened at $104.58 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $36.60 billion, a PE ratio of 10.46, a P/E/G ratio of 1.19 and a beta of 0.97. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $119.76. The business’s fifty day simple moving average is $111.87 and its 200-day simple moving average is $107.37.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data 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). The company had revenue of $15.69 billion for the quarter, compared to the consensus estimate 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 EPS. As a group, equities research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Wells Fargo & Company boosted their target price on Prudential Financial from $113.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Piper Sandler increased 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. JPMorgan Chase & Co. dropped their price target 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. Finally, Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $117.11.

Institutional Investors Weigh In On Prudential Financial

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

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.