28,333 Shares in Prudential Financial, Inc. (NYSE:PRU) Purchased by Nebula Research & Development LLC

Nebula Research & Development LLC purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 28,333 shares of the financial services provider's stock, valued at approximately $3,358,000. Prudential Financial accounts for approximately 0.4% of Nebula Research & Development LLC's portfolio, making the stock its 28th largest position.

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

Analyst Ratings Changes

Several research firms have recently weighed in on PRU. Wells Fargo & Company decreased their price objective on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Barclays cut their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 target price for the company. Piper Sandler cut their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $121.85.

Prudential Financial Price Performance

Shares of PRU stock traded down $2.61 during trading hours on Wednesday, hitting $101.42. The stock had a trading volume of 677,494 shares, compared to its average volume of 1,856,850. The stock's 50-day moving average price is $106.34 and its two-hundred day moving average price is $115.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The stock has a market capitalization of $35.95 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.32%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's payout ratio is 72.29%.

Insider Buying and Selling at Prudential Financial

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

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.