2,079 Shares in Prudential Financial, Inc. (NYSE:PRU) Bought by Fiduciary Trust Co

Fiduciary Trust Co purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,079 shares of the financial services provider’s stock, valued at approximately $252,000.

Several other large investors have also made changes to their positions in the business. Lynx Investment Advisory bought a new stake in Prudential Financial during the 2nd quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial in the third quarter worth $31,000. Bank & Trust Co bought a new position in shares of Prudential Financial during the second quarter worth $37,000. Hobbs Group Advisors LLC bought a new stake in Prudential Financial in the 2nd quarter valued at $38,000. Finally, Tompkins Financial Corp lifted its stake in Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Down 0.1 %

Shares of NYSE:PRU opened at $129.41 on Monday. Prudential Financial, Inc. has a 1 year low of $96.45 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $46.07 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.29. The business has a 50 day simple moving average of $124.24 and a two-hundred day simple moving average of $120.12.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter last year, the firm posted $3.44 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.02%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Morgan Stanley decreased their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Piper Sandler raised their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $125.92.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This represents a 6.61 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Profile

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 PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.