Insurance Co Of Ame Prudential Buys 52,595 Shares of Prudential Financial, Inc. (NYSE:PRU) Stock

Prudential Financial, Inc. (NYSE:PRU) major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of Prudential Financial stock in a transaction on Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the purchase, the insider now directly owns 139,987 shares in the company, valued at $3,992,429.24. The trade was a 60.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Insurance Co Of Ame Prudential also recently made the following trade(s):

• On Wednesday, March 12th, Insurance Co Of Ame Prudential bought 87,047 shares of Prudential Financial stock. The stock was bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $109.94 on Friday. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55. 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 company has a market cap of $39.36 billion, a PE ratio of 14.72, a P/E/G ratio of 0.98 and a beta of 1.28. The stock has a 50 day simple moving average of $113.09 and a 200-day simple moving average of $118.92.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (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%. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.91%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s payout ratio is 72.29%.

Wall Street Analysts Forecast Growth

PRU has been the subject of several research analyst reports. Jefferies Financial Group boosted their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Morgan Stanley dropped their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $126.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kingsview Wealth Management LLC increased its position in shares of Prudential Financial by 3.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 7,012 shares of the financial services provider’s stock valued at $849,000 after purchasing an additional 237 shares during the period. Larson Financial Group LLC grew its holdings in Prudential Financial by 18.0% during the third quarter. Larson Financial Group LLC now owns 715 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 109 shares during the period. Daiwa Securities Group Inc. raised its position in Prudential Financial by 11.7% in the third quarter. Daiwa Securities Group Inc. now owns 44,143 shares of the financial services provider’s stock worth $5,346,000 after acquiring an additional 4,632 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Prudential Financial in the 3rd quarter valued at about $283,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Prudential Financial by 16.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,408 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 196 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Company 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.