Graypoint LLC Buys 98 Shares of Prudential Financial, Inc. (NYSE:PRU)

Graypoint LLC increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,020 shares of the financial services provider’s stock after purchasing an additional 98 shares during the quarter. Graypoint LLC’s holdings in Prudential Financial were worth $832,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PRU. Avidian Wealth Enterprises LLC grew its position in shares of Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 89 shares during the period. Daymark Wealth Partners LLC boosted its holdings in shares of Prudential Financial by 3.9% during the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock worth $317,000 after buying an additional 97 shares during the period. UMB Bank n.a. grew its stake in Prudential Financial by 2.7% in the 3rd quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock valued at $443,000 after buying an additional 97 shares during the last quarter. Pure Financial Advisors LLC grew its stake in Prudential Financial by 2.7% in the 3rd quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock valued at $454,000 after buying an additional 97 shares during the last quarter. Finally, Hardy Reed LLC grew its stake in Prudential Financial by 1.6% in the 3rd quarter. Hardy Reed LLC now owns 6,202 shares of the financial services provider’s stock valued at $751,000 after buying an additional 98 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $114.41 on Friday. The company has a market cap of $40.73 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 0.87 and a beta of 1.31. 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 50 day simple moving average of $122.52 and a 200 day simple moving average of $120.63. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating 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 business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the firm earned $3.44 EPS. Research analysts predict that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.55%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PRU. Jefferies Financial Group upped their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company upped their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. 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 note on Thursday, October 10th. 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 note on Wednesday, October 2nd. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the company from $117.00 to $140.00 in a report on Thursday, November 14th. 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. According to MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $127.17.

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.