Thomas Stoddard Acquires 250 Shares of Prudential Financial (NYSE:PRU) Stock

Prudential Financial, Inc. (NYSE:PRU) Director Thomas Stoddard acquired 250 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $102.97 per share, with a total value of $25,742.50. Following the transaction, the director directly owned 250 shares in the company, valued at $25,742.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Prudential Financial Stock Down 1.5%

Shares of NYSE PRU opened at $102.74 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $111.08 and its two-hundred day moving average is $107.41. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $119.76. The firm has a market cap of $35.75 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.19 and a beta of 0.97.

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). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The firm had revenue of $15.69 billion during the quarter, compared to analyst estimates of $14.48 billion. During the same period in the previous year, the firm posted $2.96 earnings per share. Research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 5.5%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Tuesday, February 17th. Prudential Financial’s payout ratio is currently 56.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jessup Wealth Management Inc purchased a new stake in Prudential Financial during the fourth quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in Prudential Financial during the fourth quarter worth approximately $26,000. Salomon & Ludwin LLC lifted its position in shares of Prudential Financial by 98.3% during the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after buying an additional 114 shares during the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at $28,000. Finally, Coston McIsaac & Partners grew its position in shares of Prudential Financial by 93.4% in the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after buying an additional 128 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PRU shares. Piper Sandler upped their target price on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. UBS Group boosted their price target on shares of Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Evercore cut their price objective on Prudential Financial from $122.00 to $110.00 and set an “in-line” rating on the stock in a research report on Thursday, February 5th. Weiss Ratings upgraded Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, Mizuho cut their price target on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $117.11.

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.