New Century Financial Group LLC Purchases New Shares in Prudential Financial, Inc. (NYSE:PRU)

New Century Financial Group LLC acquired a new position in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,823 shares of the financial services provider's stock, valued at approximately $1,019,000. Prudential Financial accounts for approximately 0.9% of New Century Financial Group LLC's investment portfolio, making the stock its 24th biggest holding.

Several other institutional investors have also bought and sold shares of PRU. Cambridge Trust Co. raised its holdings in Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider's stock worth $25,000 after buying an additional 105 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in Prudential Financial during the 4th quarter worth about $26,000. Headinvest LLC acquired a new stake in Prudential Financial during the 3rd quarter worth about $27,000. Arlington Trust Co LLC raised its holdings in Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider's stock worth $32,000 after buying an additional 185 shares during the period. Finally, Janiczek Wealth Management LLC raised its holdings in Prudential Financial by 49.6% during the 4th quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider's stock worth $39,000 after buying an additional 124 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler cut their price objective on Prudential Financial from $125.00 to $121.00 and set a "neutral" rating on the stock in a report on Monday, May 6th. UBS Group upped their target price on Prudential Financial from $108.00 to $112.00 and gave the company a "neutral" rating in a report on Monday, February 12th. TheStreet upgraded Prudential Financial from a "c+" rating to an "a-" rating in a report on Tuesday, February 6th. Evercore ISI upped their target price on Prudential Financial from $115.00 to $116.00 and gave the company an "underperform" rating in a report on Thursday, April 25th. Finally, Morgan Stanley upped their target price on Prudential Financial from $109.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, April 15th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $111.08.

Insiders Place Their Bets

In other news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the sale, the executive vice president now directly owns 24,381 shares of the company's stock, valued at $2,642,656.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the sale, the executive vice president now owns 24,381 shares in the company, valued at $2,642,656.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the sale, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. Insiders sold 164,536 shares of company stock valued at $19,245,606 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Stock Performance

Prudential Financial stock traded up $1.38 during trading hours on Friday, reaching $121.31. 1,725,673 shares of the company were exchanged, compared to its average volume of 1,438,562. The firm has a market cap of $43.55 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 0.90 and a beta of 1.35. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average of $114.05 and a 200 day moving average of $106.30. Prudential Financial, Inc. has a 12 month low of $78.40 and a 12 month high of $121.39.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm's revenue for the quarter was up 69.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.66 EPS. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.42 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.29%. Prudential Financial's payout ratio is currently 88.44%.

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.