Tucker Asset Management LLC Acquires 656 Shares of Prudential Financial, Inc. (NYSE:PRU)

Tucker Asset Management LLC boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 383.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 827 shares of the financial services provider’s stock after acquiring an additional 656 shares during the period. Tucker Asset Management LLC’s holdings in Prudential Financial were worth $86,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of Prudential Financial by 9,281.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock valued at $141,962,000 after purchasing an additional 1,354,248 shares in the last quarter. Norges Bank purchased a new stake in shares of Prudential Financial in the 4th quarter worth about $113,478,000. Dimensional Fund Advisors LP lifted its position in Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after acquiring an additional 388,363 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Prudential Financial during the third quarter worth about $34,251,000. Finally, abrdn plc grew its holdings in Prudential Financial by 37.5% in the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock worth $114,829,000 after purchasing an additional 302,164 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the sale, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Robert Falzon sold 130,092 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PRU shares. Keefe, Bruyette & Woods raised their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Morgan Stanley increased their target price on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI upped their price target on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Finally, Piper Sandler reduced their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average price target of $115.25.

Prudential Financial Price Performance

Prudential Financial stock traded down $0.86 during midday trading on Friday, reaching $113.11. 1,065,223 shares of the stock traded hands, compared to its average volume of 1,290,051. The stock has a market cap of $40.61 billion, a P/E ratio of 19.24, a PEG ratio of 0.85 and a beta of 1.35. The stock’s fifty day moving average is $115.09 and its 200-day moving average is $109.75. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a 12 month low of $83.34 and a 12 month high of $121.39.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The business had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business’s quarterly revenue was up 69.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.66 earnings per share. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.41 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

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.