Investment Research Partners LLC Takes $646,000 Position in Prudential Financial, Inc. $PRU

Investment Research Partners LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,388 shares of the financial services provider’s stock, valued at approximately $646,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Wealth Watch Advisors INC purchased a new position in Prudential Financial in the third quarter valued at approximately $30,000. Chilton Capital Management LLC lifted its position in shares of Prudential Financial by 146.5% during the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock worth $36,000 after buying an additional 208 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Prudential Financial in the 2nd quarter valued at $36,000. AlphaCore Capital LLC purchased a new position in shares of Prudential Financial in the 2nd quarter valued at $39,000. Finally, Capital A Wealth Management LLC grew its position in shares of Prudential Financial by 4,600.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after buying an additional 368 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRU has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings cut Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Evercore reissued a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Barclays dropped their price target on Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 11th. Finally, Piper Sandler lifted their price target on Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. Nine analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $115.22.

Prudential Financial Trading Down 1.7%

NYSE PRU opened at $92.89 on Thursday. The firm’s fifty day moving average is $104.33 and its two-hundred day moving average is $106.24. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $32.32 billion, a PE ratio of 9.29, a P/E/G ratio of 1.16 and a beta of 0.98.

Prudential Financial (NYSE:PRU) last announced its earnings results 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). Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.The business had revenue of $14.52 billion for the quarter, compared to analyst estimates of $14.48 billion. During the same quarter last year, the company posted $2.96 EPS. Analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s payout ratio is 56.00%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was purchased at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the completion of the acquisition, the insider directly owned 7,709,624 shares in the company, valued at $191,738,348.88. This trade represents a 22.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph J. Wolk acquired 400 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average price of $105.32 per share, for a total transaction of $42,128.00. Following the completion of the transaction, the director owned 400 shares in the company, valued at $42,128. The trade was a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 1,408,389 shares of company stock valued at $35,154,439. Company insiders own 0.25% of the company’s stock.

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.