Fairman Group LLC Invests $38,000 in Prudential Financial, Inc. (NYSE:PRU)

Fairman Group LLC purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 365 shares of the financial services provider’s stock, valued at approximately $38,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cambridge Trust Co. boosted its holdings in shares of Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Prudential Financial in the fourth quarter worth about $26,000. Headinvest LLC bought a new position in shares of Prudential Financial during the third quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its holdings in shares of Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new position in Prudential Financial during the 4th quarter valued at approximately $36,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRU has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $121.00 to $143.00 in a research note on Wednesday, May 22nd. Piper Sandler reduced their target price on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Morgan Stanley upped their price target on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company lifted their price objective on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $115.25.

Prudential Financial Stock Up 1.0 %

NYSE PRU opened at $115.67 on Wednesday. The stock has a 50 day moving average price of $115.10 and a 200-day moving average price of $109.99. Prudential Financial, Inc. has a one year low of $83.34 and a one year high of $121.39. The company has a market capitalization of $41.53 billion, a P/E ratio of 19.67, a P/E/G ratio of 0.86 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the previous year, the business earned $2.66 earnings per share. The business’s quarterly revenue was up 69.9% on a year-over-year basis. As a group, equities analysts predict that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $5.20 annualized dividend and a yield of 4.50%. Prudential Financial’s payout ratio is presently 88.44%.

Insider Activity at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Robert Falzon sold 130,092 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by 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.