Ingalls & Snyder LLC Invests $314,000 in Prudential Financial, Inc. (NYSE:PRU)

Ingalls & Snyder LLC purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,589 shares of the financial services provider’s stock, valued at approximately $314,000.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Prudential Financial during the third quarter worth $31,000. Hobbs Group Advisors LLC purchased a new stake in Prudential Financial during the 2nd quarter worth about $38,000. Tompkins Financial Corp raised its stake in Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Prudential Financial by 235.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 266 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Prudential Financial during the second quarter worth about $45,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Down 1.0 %

Shares of NYSE PRU opened at $127.14 on Wednesday. The company has a market cap of $45.26 billion, a P/E ratio of 11.30, a P/E/G ratio of 0.92 and a beta of 1.29. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12-month low of $96.87 and a 12-month high of $130.55. The stock has a fifty day moving average price of $124.54 and a 200 day moving average price of $120.22.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the firm posted $3.44 EPS. Research analysts anticipate that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PRU shares. TD Cowen raised their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Wells Fargo & Company increased their target price on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Barclays upped their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Bank of America boosted their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average price target of $125.92.

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.