AGF Management Ltd. Has $1.69 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

AGF Management Ltd. boosted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 158.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,238 shares of the financial services provider's stock after buying an additional 8,729 shares during the quarter. AGF Management Ltd.'s holdings in Prudential Financial were worth $1,688,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. Savant Capital LLC grew its stake in Prudential Financial by 0.6% in the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock valued at $1,705,000 after purchasing an additional 83 shares in the last quarter. Grove Bank & Trust grew its stake in Prudential Financial by 65.9% in 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 in the last quarter. Asset Dedication LLC grew its stake in Prudential Financial by 28.4% in the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 93 shares in the last quarter. RNC Capital Management LLC grew its stake in Prudential Financial by 3.3% in the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider's stock valued at $354,000 after purchasing an additional 95 shares in the last quarter. Finally, Hardy Reed LLC grew its stake in Prudential Financial by 1.6% in the third quarter. Hardy Reed LLC now owns 6,202 shares of the financial services provider's stock valued at $751,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Remove Ads

Prudential Financial Price Performance

NYSE PRU traded up $0.90 during midday trading on Wednesday, hitting $110.64. The company had a trading volume of 1,238,727 shares, compared to its average volume of 1,427,124. The company has a market capitalization of $39.61 billion, a PE ratio of 14.81, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $113.96 and a 200-day moving average price of $119.24. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced 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 net margin of 4.01% and a return on equity of 15.86%. As a group, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a $1.35 dividend. The ex-dividend date of this dividend was 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 4.88%. Prudential Financial's payout ratio is currently 72.29%.

Insider Buying and Selling at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PRU. TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. Piper Sandler reduced their target price on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company lifted their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $126.15.

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.