Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Accurate Wealth Management LLC

Accurate Wealth Management LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,738 shares of the financial services provider’s stock after purchasing an additional 482 shares during the period. Accurate Wealth Management LLC’s holdings in Prudential Financial were worth $772,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. KWB Wealth lifted its stake in Prudential Financial by 37.8% during the fourth quarter. KWB Wealth now owns 4,623 shares of the financial services provider’s stock valued at $560,000 after purchasing an additional 1,267 shares during the last quarter. PSI Advisors LLC lifted its stake in Prudential Financial by 37.0% during the fourth quarter. PSI Advisors LLC now owns 592 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 160 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Prudential Financial during the fourth quarter valued at approximately $1,718,000. Elevated Capital Advisors LLC lifted its stake in Prudential Financial by 1.2% during the fourth quarter. Elevated Capital Advisors LLC now owns 8,920 shares of the financial services provider’s stock valued at $1,057,000 after purchasing an additional 105 shares during the last quarter. Finally, Cooper Financial Group lifted its stake in Prudential Financial by 19.4% during the fourth quarter. Cooper Financial Group now owns 2,028 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 329 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

Prudential Financial Stock Performance

Shares of PRU opened at $120.10 on Thursday. The company’s fifty day moving average is $122.38 and its 200-day moving average is $120.67. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55. The firm has a market cap of $42.76 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS 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 company had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business posted $3.44 EPS. Equities analysts expect that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.33%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. TD Cowen upped their price target 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. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price target on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Bank of America upped 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 equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $127.00.

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.