Insider Buying: Prudential Financial, Inc. (NYSE:PRU) EVP Buys 125 Shares of Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney purchased 125 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was acquired at an average price of $115.90 per share, with a total value of $14,487.50. Following the completion of the transaction, the executive vice president now owns 11,410 shares of the company’s stock, valued at $1,322,419. This represents a 1.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Prudential Financial Price Performance

Prudential Financial stock opened at $110.35 on Friday. The company has a market capitalization of $39.51 billion, a PE ratio of 14.77, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $113.57 and a two-hundred day moving average price of $119.04. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.89%. The ex-dividend date was Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Institutional Investors Weigh In On Prudential Financial

A number of institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Prudential Financial by 46.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 77,265 shares of the financial services provider’s stock worth $9,158,000 after acquiring an additional 24,682 shares during the period. Siemens Fonds Invest GmbH boosted its stake in shares of Prudential Financial by 3.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 3,954 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 143 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Prudential Financial during the fourth quarter worth $25,796,000. REAP Financial Group LLC raised its stake in Prudential Financial by 70.6% during the fourth quarter. REAP Financial Group LLC now owns 394 shares of the financial services provider’s stock worth $47,000 after buying an additional 163 shares during the last quarter. Finally, LifeWealth Investments LLC bought a new stake in Prudential Financial during the fourth quarter valued at $275,000. Institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PRU shares. Keefe, Bruyette & Woods cut their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Jefferies Financial Group upped their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Morgan Stanley reduced their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, TD Cowen boosted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $126.15.

About Prudential Financial

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.