Bleakley Financial Group LLC Acquires 355 Shares of Prudential Financial, Inc. (NYSE:PRU)

Bleakley Financial Group LLC grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,795 shares of the financial services provider’s stock after acquiring an additional 355 shares during the period. Bleakley Financial Group LLC’s holdings in Prudential Financial were worth $1,065,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Creekmur Asset Management LLC increased its stake in Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. Lynx Investment Advisory purchased a new position in Prudential Financial during the second quarter worth about $29,000. Crewe Advisors LLC purchased a new position in Prudential Financial during the first quarter worth about $33,000. ESL Trust Services LLC purchased a new position in Prudential Financial during the first quarter worth about $34,000. Finally, Riverview Trust Co bought a new stake in Prudential Financial in the first quarter worth about $37,000. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Trading Down 0.3 %

Shares of NYSE PRU opened at $127.40 on Monday. The stock has a market capitalization of $45.74 billion, a P/E ratio of 21.67, a PEG ratio of 0.98 and a beta of 1.30. The business’s 50 day moving average is $118.85 and its two-hundred day moving average is $117.50. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $128.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, research analysts expect that Prudential Financial, Inc. will post 13.29 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.08%. Prudential Financial’s dividend payout ratio is presently 88.44%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Barclays initiated coverage on Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective for the company. Morgan Stanley decreased their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. TD Cowen started coverage on Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price for the company. Finally, Bank of America boosted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $123.69.

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.