Darwin Wealth Management LLC Purchases Shares of 392 Prudential Financial, Inc. (NYSE:PRU)

Darwin Wealth Management LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 392 shares of the financial services provider’s stock, valued at approximately $48,000.

A number of other institutional investors also recently modified their holdings of PRU. Creekmur Asset Management LLC increased its holdings in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new stake in Prudential Financial in the 2nd quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in Prudential Financial during the 3rd quarter valued at about $31,000. Strategic Financial Concepts LLC boosted its holdings in shares of Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 25,027 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Prudential Financial during the first quarter valued at approximately $33,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 1.7 %

Shares of PRU stock opened at $126.26 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market cap of $44.95 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The company has a 50-day moving average of $123.06 and a two-hundred day moving average of $119.61. Prudential Financial, Inc. has a 1-year low of $93.99 and a 1-year high of $129.13.

Prudential Financial (NYSE:PRU) last issued 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. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the business earned $3.44 EPS. On average, analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.12%. Prudential Financial’s dividend payout ratio is presently 46.22%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PRU. Barclays raised their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Piper Sandler increased their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, Bank of America lifted their target price on 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average price target of $125.69.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.