Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,531 shares of the financial services provider’s stock after purchasing an additional 118 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Prudential Financial were worth $677,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Syon Capital LLC purchased a new position in Prudential Financial during the 4th quarter valued at about $356,000. Bailard Inc. increased its holdings in Prudential Financial by 11.3% during the 4th quarter. Bailard Inc. now owns 9,862 shares of the financial services provider’s stock valued at $1,023,000 after acquiring an additional 998 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Prudential Financial by 7.0% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,404 shares of the financial services provider’s stock valued at $872,000 after acquiring an additional 550 shares in the last quarter. Bfsg LLC purchased a new position in Prudential Financial during the 4th quarter valued at about $90,000. Finally, NewSquare Capital LLC increased its holdings in Prudential Financial by 2.1% during the 4th quarter. NewSquare Capital LLC now owns 76,691 shares of the financial services provider’s stock valued at $7,854,000 after acquiring an additional 1,551 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In related news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the sale, the executive vice president now owns 13,691 shares in the company, valued at $1,527,504.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the sale, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 7,685 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,255 shares of company stock worth $3,215,664. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. UBS Group lifted their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $118.00 price target (down from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Piper Sandler lifted their price target on shares of Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Evercore ISI raised their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $111.42.

Prudential Financial Trading Down 0.6 %

PRU stock traded down $0.68 during midday trading on Friday, reaching $110.50. 1,110,106 shares of the company’s stock traded hands, compared to its average volume of 1,226,730. The company has a market capitalization of $39.67 billion, a P/E ratio of 16.52, a PEG ratio of 0.75 and a beta of 1.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a fifty-two week low of $77.22 and a fifty-two week high of $118.69. The business has a 50-day moving average price of $111.75 and a two-hundred day moving average price of $103.73.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same period in the previous year, the firm posted $2.42 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts forecast that Prudential Financial, Inc. will post 13.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend was Friday, February 16th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s payout ratio is 77.73%.

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.