Ethic Inc. Buys 7,985 Shares of Prudential Financial, Inc. $PRU

Ethic Inc. increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 12.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,706 shares of the financial services provider’s stock after buying an additional 7,985 shares during the quarter. Ethic Inc.’s holdings in Prudential Financial were worth $8,144,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PRU. Team Financial Group LLC purchased a new position in Prudential Financial during the third quarter worth $27,000. Archer Investment Corp purchased a new stake in shares of Prudential Financial in the second quarter valued at $26,000. Heritage Family Offices LLP bought a new stake in shares of Prudential Financial in the 3rd quarter worth about $33,000. MADDEN SECURITIES Corp bought a new stake in shares of Prudential Financial in the 3rd quarter worth about $38,000. Finally, Center for Financial Planning Inc. lifted its holdings in shares of Prudential Financial by 90.4% in the 3rd quarter. Center for Financial Planning Inc. now owns 339 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 161 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

PRU stock opened at $119.36 on Monday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $116.98 and its two-hundred day simple moving average is $108.97. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $128.78. The firm has a market cap of $40.94 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 1.89 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.44. The business had revenue of $14.45 billion during the quarter, compared to the consensus estimate of $14.66 billion. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. During the same period last year, the company earned $4.26 earnings per share. Analysts predict that Prudential Financial, Inc. will post 13.54 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were issued a dividend of $1.40 per share. The ex-dividend date was Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a yield of 4.7%. Prudential Financial’s dividend payout ratio (DPR) is presently 50.96%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann Kappler sold 7,652 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president directly owned 14,407 shares of the company’s stock, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on PRU. Morgan Stanley cut their price target on shares of Prudential Financial from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Monday, October 19th. Zacks Research lowered shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, October 23rd. Wells Fargo & Company decreased their price objective on shares of Prudential Financial from $104.00 to $103.00 and set an “underweight” rating for the company in a research note on Wednesday, October 28th. Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Monday, September 28th. Finally, TD Cowen dropped their target price on Prudential Financial from $114.00 to $112.00 and set a “hold” rating for the company in a research report on Wednesday, October 21st. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Reduce” and an average price target of $112.40.

Prudential Financial Company Profile

Prudential Financial, Inc is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services.

The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors.

Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.