FNY Investment Advisers LLC Acquires New Stake in Prudential Financial, Inc. (NYSE:PRU)

FNY Investment Advisers LLC bought a new position in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,500 shares of the financial services provider’s stock, valued at approximately $1,718,000.

Several other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial in the 3rd quarter worth about $31,000. Quarry LP increased its stake in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares in the last quarter. Tompkins Financial Corp raised its position in shares of Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares during the period. GHP Investment Advisors Inc. boosted its holdings in Prudential Financial by 235.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock worth $46,000 after buying an additional 266 shares during the period. Finally, Darwin Wealth Management LLC purchased a new position in Prudential Financial in the 3rd quarter valued at approximately $48,000. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 1.7 %

PRU stock opened at $116.47 on Tuesday. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55. The company has a market capitalization of $41.46 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31. The company’s 50 day moving average price is $122.43 and its two-hundred day moving average price is $120.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the previous year, the firm posted $3.44 earnings per share. As a group, analysts predict that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.46%. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PRU shares. Wells Fargo & Company raised their price target on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays raised their price objective on shares of Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. TD Cowen upped their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Bank of America boosted their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Eleven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $127.17.

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.