Prudential Financial, Inc. $PRU Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 18.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 115,059 shares of the financial services provider’s stock after buying an additional 18,241 shares during the quarter. D.A. Davidson & CO.’s holdings in Prudential Financial were worth $11,936,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new stake in Prudential Financial in the second quarter valued at approximately $36,000. AlphaCore Capital LLC purchased a new position in shares of Prudential Financial in the second quarter valued at $39,000. Capital A Wealth Management LLC grew its holdings in Prudential Financial by 4,600.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 368 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Prudential Financial during the 2nd quarter worth $51,000. Finally, Crews Bank & Trust lifted its holdings in Prudential Financial by 36.4% in the 2nd quarter. Crews Bank & Trust now owns 547 shares of the financial services provider’s stock worth $59,000 after buying an additional 146 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Up 3.0%

NYSE:PRU opened at $117.29 on Tuesday. The company has a market cap of $41.05 billion, a PE ratio of 16.11, a P/E/G ratio of 0.90 and a beta of 0.97. The business’s 50 day moving average is $109.76 and its two-hundred day moving average is $106.56. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $123.88.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.The business had revenue of $8.35 billion for the quarter. On average, analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.6%. Prudential Financial’s payout ratio is 74.18%.

Analyst Upgrades and Downgrades

PRU has been the subject of several recent analyst reports. Mizuho initiated coverage on Prudential Financial in a research note on Tuesday, December 16th. They set a “neutral” rating and a $125.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Prudential Financial in a research note on Monday, December 29th. Piper Sandler upped their target price on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Wolfe Research started coverage on Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, Morgan Stanley lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Eleven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $118.00.

Insider Activity at Prudential Financial

In other news, EVP Caroline Feeney sold 6,555 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $116.28, for a total transaction of $762,215.40. Following the completion of the transaction, the executive vice president directly owned 22,523 shares of the company’s stock, valued at approximately $2,618,974.44. This represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy L. Schmidt sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total value of $861,520.00. Following the completion of the sale, the senior vice president directly owned 11,535 shares in the company, valued at approximately $1,242,204.15. This trade represents a 40.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 62,719 shares of company stock valued at $6,796,067 in the last quarter. Insiders own 0.25% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.