Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by MBM Wealth Consultants LLC

MBM Wealth Consultants LLC grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,066 shares of the financial services provider’s stock after acquiring an additional 173 shares during the period. MBM Wealth Consultants LLC’s holdings in Prudential Financial were worth $363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PRU. Edgestream Partners L.P. purchased a new position in Prudential Financial in the second quarter valued at about $258,000. Intech Investment Management LLC lifted its position in Prudential Financial by 70.8% during the 2nd quarter. Intech Investment Management LLC now owns 17,570 shares of the financial services provider’s stock worth $2,059,000 after acquiring an additional 7,281 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Prudential Financial by 4.5% in the 2nd quarter. Pacer Advisors Inc. now owns 25,964 shares of the financial services provider’s stock worth $3,043,000 after acquiring an additional 1,122 shares during the period. Sei Investments Co. grew its position in Prudential Financial by 14.4% in the second quarter. Sei Investments Co. now owns 66,187 shares of the financial services provider’s stock valued at $7,757,000 after acquiring an additional 8,334 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its stake in shares of Prudential Financial by 7.7% during the second quarter. Ensign Peak Advisors Inc now owns 126,144 shares of the financial services provider’s stock valued at $14,783,000 after purchasing an additional 9,070 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PRU. Keefe, Bruyette & Woods lowered their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company dropped their target price on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Piper Sandler reduced their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen increased their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Barclays reduced their price objective on shares of Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $127.25.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $120.20 on Wednesday. The stock has a market capitalization of $42.79 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.10 and a beta of 1.31. The firm’s 50-day moving average price is $121.94 and its two-hundred day moving average price is $120.69. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55. 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 released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the firm posted $3.44 EPS. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.26 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given 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 is presently 46.22%.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.34% of the stock is owned by insiders.

About Prudential Financial

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.