Financial Synergies Wealth Advisors Inc. Purchases 408 Shares of Prudential Financial, Inc. (NYSE:PRU)

Financial Synergies Wealth Advisors Inc. increased its position in Prudential Financial, Inc. (NYSE:PRU) by 5,100.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 416 shares of the financial services provider’s stock after acquiring an additional 408 shares during the period. Financial Synergies Wealth Advisors Inc.’s holdings in Prudential Financial were worth $49,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC raised its stake in Prudential Financial by 2.9% during the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after purchasing an additional 36,599 shares during the period. WINTON GROUP Ltd bought a new stake in Prudential Financial during the 3rd quarter valued at approximately $204,000. LPL Financial LLC raised its stake in Prudential Financial by 1.2% during the 3rd quarter. LPL Financial LLC now owns 455,205 shares of the financial services provider’s stock valued at $43,194,000 after purchasing an additional 5,181 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Prudential Financial by 71.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,785 shares of the financial services provider’s stock valued at $3,585,000 after purchasing an additional 15,695 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in Prudential Financial by 13.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,076 shares of the financial services provider’s stock valued at $577,000 after purchasing an additional 720 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

PRU opened at $119.16 on Tuesday. The business has a fifty day moving average of $115.65 and a 200 day moving average of $110.52. Prudential Financial, Inc. has a 52-week low of $84.02 and a 52-week high of $121.39. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock has a market cap of $42.78 billion, a P/E ratio of 20.27, a PEG ratio of 0.88 and a beta of 1.35.

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

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Monday, May 20th. Prudential Financial’s payout ratio is 88.44%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PRU shares. Wells Fargo & Company lifted their target price on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Piper Sandler cut their price target on 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 raised their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and raised their price target for the company from $121.00 to $143.00 in a report on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods raised their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $115.25.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of Prudential Financial stock in a transaction dated Thursday, June 20th. The stock was purchased at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of Prudential Financial stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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.