Toronto Dominion Bank Acquires 11,565 Shares of Prudential Financial, Inc. (NYSE:PRU)

Toronto Dominion Bank lifted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,217 shares of the financial services provider's stock after purchasing an additional 11,565 shares during the quarter. Toronto Dominion Bank owned 0.06% of Prudential Financial worth $24,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Grove Bank & Trust lifted its stake in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares during the period. Centricity Wealth Management LLC bought a new position in Prudential Financial during the fourth quarter valued at approximately $29,000. CGC Financial Services LLC boosted its holdings in Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after purchasing an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial in the 4th quarter worth approximately $33,000. Finally, Hopwood Financial Services Inc. purchased a new stake in Prudential Financial during the 4th quarter valued at $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PRU. Barclays dropped their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Piper Sandler reduced their target price on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. UBS Group dropped their price target on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company upped their price objective on Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $121.08.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were acquired at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the purchase, the insider now directly owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. The trade was a 60.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

Prudential Financial Price Performance

PRU traded up $0.45 during trading on Thursday, hitting $102.25. 1,384,572 shares of the company traded hands, compared to its average volume of 1,624,826. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock's 50-day simple moving average is $104.63 and its two-hundred day simple moving average is $113.68. The company has a market cap of $36.20 billion, a PE ratio of 13.69, a P/E/G ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.11. The firm had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The business's revenue was down 38.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.12 EPS. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is 85.58%.

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.