Callan Family Office LLC Acquires 132 Shares of Prudential Financial, Inc. (NYSE:PRU)

Callan Family Office LLC lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,935 shares of the financial services provider’s stock after purchasing an additional 132 shares during the quarter. Callan Family Office LLC’s holdings in Prudential Financial were worth $234,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Elo Mutual Pension Insurance Co increased its stake in Prudential Financial by 3.4% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 31,693 shares of the financial services provider’s stock valued at $3,287,000 after acquiring an additional 1,049 shares during the last quarter. Regal Investment Advisors LLC increased its stake in Prudential Financial by 229.6% in the fourth quarter. Regal Investment Advisors LLC now owns 10,911 shares of the financial services provider’s stock valued at $1,132,000 after acquiring an additional 7,601 shares during the last quarter. Bridgewater Associates LP increased its stake in Prudential Financial by 21.5% in the fourth quarter. Bridgewater Associates LP now owns 194,015 shares of the financial services provider’s stock valued at $20,121,000 after acquiring an additional 34,373 shares during the last quarter. Ethic Inc. increased its stake in Prudential Financial by 8.5% in the fourth quarter. Ethic Inc. now owns 88,425 shares of the financial services provider’s stock valued at $9,171,000 after acquiring an additional 6,953 shares during the last quarter. Finally, Bragg Financial Advisors Inc increased its stake in Prudential Financial by 2.5% in the fourth quarter. Bragg Financial Advisors Inc now owns 89,257 shares of the financial services provider’s stock valued at $9,257,000 after acquiring an additional 2,198 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $120.88 on Wednesday. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The firm has a fifty day simple moving average of $116.85 and a 200 day simple moving average of $116.98. The company has a market capitalization of $43.40 billion, a PE ratio of 20.56, a P/E/G ratio of 0.94 and a beta of 1.30. 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 announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 13.29 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PRU shares. Jefferies Financial Group cut their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. UBS Group raised their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Piper Sandler raised their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, Citigroup raised their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $123.36.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The shares were 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 approximately $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Prudential Financial 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 directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% 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.