Foster & Motley Inc. Purchases 11,791 Shares of Prudential Financial, Inc. (NYSE:PRU)

Foster & Motley Inc. increased its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 36.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,041 shares of the financial services provider's stock after purchasing an additional 11,791 shares during the period. Foster & Motley Inc.'s holdings in Prudential Financial were worth $4,567,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PRU. International Assets Investment Management LLC grew its position in Prudential Financial by 9,281.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider's stock worth $141,962,000 after buying an additional 1,354,248 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Prudential Financial during the third quarter worth about $34,251,000. abrdn plc grew its position in Prudential Financial by 37.5% during the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider's stock worth $114,829,000 after buying an additional 302,164 shares during the period. Envestnet Asset Management Inc. grew its position in Prudential Financial by 39.2% during the third quarter. Envestnet Asset Management Inc. now owns 1,004,087 shares of the financial services provider's stock worth $95,278,000 after buying an additional 282,667 shares during the period. Finally, AQR Capital Management LLC grew its position in Prudential Financial by 80.6% during the third quarter. AQR Capital Management LLC now owns 562,875 shares of the financial services provider's stock worth $53,411,000 after buying an additional 251,269 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares of the company's stock, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of the firm's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the transaction, the executive vice president now directly owns 13,691 shares of the company's stock, valued at approximately $1,527,504.87. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Timothy L. Schmidt sold 7,912 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares of the company's stock, valued at $1,595,350.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,255 shares of company stock valued at $3,215,664. Company insiders own 0.34% of the company's stock.

Prudential Financial Trading Up 0.5 %

NYSE:PRU traded up $0.58 during trading hours on Tuesday, reaching $112.05. 1,367,823 shares of the company were exchanged, compared to its average volume of 1,519,587. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $40.23 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 0.75 and a beta of 1.37. Prudential Financial, Inc. has a 52-week low of $77.22 and a 52-week high of $118.69. The stock has a 50 day simple moving average of $111.52 and a 200 day simple moving average of $103.50.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing analysts' consensus estimates of $2.67 by ($0.09). The company had revenue of $13.02 billion for the quarter, compared to analysts' expectations of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The business's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.42 EPS. As a group, analysts predict that Prudential Financial, Inc. will post 13.38 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Friday, February 16th. This is an increase from Prudential Financial's previous quarterly dividend of $1.25. Prudential Financial's dividend payout ratio (DPR) is currently 77.73%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PRU shares. Keefe, Bruyette & Woods increased their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the company a "market perform" rating in a research report on Wednesday, April 10th. Morgan Stanley increased their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the company an "equal weight" rating in a research report on Monday, April 15th. Evercore ISI increased their price target on shares of Prudential Financial from $104.00 to $115.00 and gave the company an "underperform" rating in a research report on Thursday, April 11th. UBS Group increased their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the company a "neutral" rating in a research report on Monday, February 12th. Finally, TheStreet upgraded shares of Prudential Financial from a "c+" rating to an "a-" rating in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company's stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of "Hold" and a consensus price target of $111.33.

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.