2,068 Shares in Prudential Financial, Inc. (NYSE:PRU) Acquired by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,068 shares of the financial services provider’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sanctuary Wealth Management L.L.C. bought a new position in Prudential Financial in the fourth quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new position in Prudential Financial in the fourth quarter worth approximately $26,000. Headinvest LLC bought a new position in Prudential Financial in the third quarter worth approximately $27,000. Fairfield Bush & CO. bought a new position in Prudential Financial in the first quarter worth approximately $36,000. Finally, Arlington Trust Co LLC boosted its holdings in Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 185 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $107.59 on Wednesday. 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 business has a fifty day simple moving average of $111.23 and a two-hundred day simple moving average of $102.87. Prudential Financial, Inc. has a 1 year low of $77.22 and a 1 year high of $118.69. The company has a market capitalization of $38.62 billion, a P/E ratio of 16.08, a P/E/G ratio of 0.73 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.09). The company had revenue of $13.02 billion during the quarter, compared to analysts’ expectations of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. Prudential Financial’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 earnings per share. On average, analysts expect that Prudential Financial, Inc. will post 13.4 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.83%. Prudential Financial’s payout ratio is 77.73%.

Insider Activity

In related news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the sale, the executive vice president now owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the sale, the executive vice president now owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the sale, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,255 shares of company stock worth $3,215,664. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on PRU. Morgan Stanley raised 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $118.00 target price (down previously from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Evercore ISI raised their target price on Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a report on Thursday, April 11th. Wells Fargo & Company raised their target price on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Finally, UBS Group raised 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. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $111.33.

About Prudential Financial

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.