TFG Advisers LLC Increases Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

by · The Cerbat Gem

TFG Advisers LLC raised its holdings in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 1.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,841 shares of the financial services provider’s stock after buying an additional 286 shares during the quarter. TFG Advisers LLC’s holdings in Prudential Financial were worth $1,918,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Creekmur Asset Management LLC grew its position in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of Prudential Financial in the 2nd quarter valued at $29,000. Crewe Advisors LLC purchased a new position in Prudential Financial in the 1st quarter worth $33,000. ESL Trust Services LLC acquired a new stake in Prudential Financial during the 1st quarter worth about $34,000. Finally, Riverview Trust Co purchased a new stake in Prudential Financial during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity

In related news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley decreased their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Jefferies Financial Group reduced their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Citigroup upped their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, TD Cowen began coverage on Prudential Financial in a research note on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.69.

Get Our Latest Research Report on PRU

Prudential Financial Price Performance

Shares of NYSE:PRU traded down $0.70 during midday trading on Wednesday, reaching $124.94. 49,934 shares of the company’s stock traded hands, compared to its average volume of 1,477,631. The company has a fifty day simple moving average of $119.51 and a two-hundred day simple moving average of $117.64. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The company has a market cap of $44.85 billion, a P/E ratio of 21.37, a PEG ratio of 0.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Equities analysts predict that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.16%. Prudential Financial’s payout ratio is currently 88.44%.

About Prudential Financial

(Free Report)

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.

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