Lecap Asset Management Ltd. Makes New $874,000 Investment in Prudential Financial, Inc. (NYSE:PRU)

Lecap Asset Management Ltd. purchased a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,375 shares of the financial services provider's stock, valued at approximately $874,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock worth $2,059,549,000 after acquiring an additional 49,830 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after purchasing an additional 341,787 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Prudential Financial by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider's stock valued at $370,327,000 after purchasing an additional 47,561 shares during the last quarter. FMR LLC boosted its position in shares of Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock valued at $174,903,000 after purchasing an additional 344,254 shares during the period. Finally, abrdn plc increased its position in Prudential Financial by 4.0% during the third quarter. abrdn plc now owns 1,309,155 shares of the financial services provider's stock worth $158,120,000 after buying an additional 50,026 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Price Performance

Prudential Financial stock traded down $0.41 during midday trading on Tuesday, reaching $111.68. The company's stock had a trading volume of 1,132,700 shares, compared to its average volume of 1,745,682. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.14 and a current ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $104.02 and a fifty-two week high of $130.55. The firm has a market capitalization of $39.76 billion, a PE ratio of 14.95, a P/E/G ratio of 1.00 and a beta of 1.31. The stock's 50 day simple moving average is $119.08 and its 200 day simple moving average is $120.16.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.84%. Prudential Financial's payout ratio is currently 69.61%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares of the company's stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group raised their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on shares of Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating for the company in a report on Tuesday, January 14th. TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods decreased their price objective on Prudential Financial from $135.00 to $129.00 and set a "market perform" rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $125.77.

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.