Global Retirement Partners LLC Purchases 367 Shares of Prudential Financial, Inc. (NYSE:PRU)

Global Retirement Partners LLC raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,968 shares of the financial services provider’s stock after buying an additional 367 shares during the period. Global Retirement Partners LLC’s holdings in Prudential Financial were worth $723,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Good Life Advisors LLC boosted its holdings in shares of Prudential Financial by 18.2% during the 3rd quarter. Good Life Advisors LLC now owns 4,889 shares of the financial services provider’s stock valued at $592,000 after purchasing an additional 754 shares during the last quarter. Hengehold Capital Management LLC increased its holdings in Prudential Financial by 2.2% during the third quarter. Hengehold Capital Management LLC now owns 40,760 shares of the financial services provider’s stock valued at $4,936,000 after buying an additional 887 shares during the period. Bfsg LLC increased its holdings in Prudential Financial by 1.2% during the third quarter. Bfsg LLC now owns 34,472 shares of the financial services provider’s stock valued at $4,175,000 after buying an additional 397 shares during the period. B.O.S.S. Retirement Advisors LLC boosted its stake in Prudential Financial by 2.1% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 13,765 shares of the financial services provider’s stock valued at $1,667,000 after acquiring an additional 278 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in Prudential Financial by 0.7% in the third quarter. Vontobel Holding Ltd. now owns 34,617 shares of the financial services provider’s stock valued at $4,192,000 after acquiring an additional 232 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 target price for the company. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. JPMorgan Chase & Co. lifted their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Finally, Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $123.69.

Insider Buying and Selling

In related news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Down 0.3 %

PRU opened at $127.40 on Monday. The firm has a market capitalization of $45.74 billion, a P/E ratio of 21.67, a P/E/G ratio of 0.98 and a beta of 1.30. The firm’s 50 day moving average is $118.85 and its 200-day moving average is $117.50. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) 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 analysts’ consensus estimates of $3.43 by ($0.04). The firm 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%. Analysts expect that Prudential Financial, Inc. will post 13.29 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.08%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Prudential Financial Company 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.