APG Asset Management N.V. Makes New $22.36 Million Investment in Prudential Financial, Inc. (NYSE:PRU)

APG Asset Management N.V. purchased a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 195,300 shares of the financial services provider's stock, valued at approximately $22,355,000. APG Asset Management N.V. owned about 0.05% of Prudential Financial at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Savant Capital LLC increased its stake in shares of Prudential Financial by 0.6% during the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after purchasing an additional 83 shares during the last quarter. Grove Bank & Trust increased its position in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in Prudential Financial by 1.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock valued at $1,116,000 after buying an additional 91 shares during the period. Asset Dedication LLC boosted its stake in shares of Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock worth $50,000 after acquiring an additional 93 shares during the period. Finally, RNC Capital Management LLC increased its holdings in shares of Prudential Financial by 3.3% during the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider's stock worth $354,000 after acquiring an additional 95 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group reduced their price objective on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley reduced their target price on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Piper Sandler cut their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday. BMO Capital Markets started coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of "Hold" and an average price target of $121.85.

Insider Activity

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were 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. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 25th. The stock was acquired at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the purchase, the insider now owns 139,987 shares of the company's stock, valued at $3,992,429.24. The trade was a 60.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

Prudential Financial Price Performance

PRU stock traded down $0.20 during midday trading on Tuesday, reaching $101.23. The company had a trading volume of 571,027 shares, compared to its average volume of 1,593,088. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The stock has a 50 day moving average price of $108.73 and a 200-day moving average price of $117.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $35.88 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Equities research analysts expect that Prudential Financial, Inc. will post 14.36 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 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 5.33%. Prudential Financial's dividend payout ratio is 72.29%.

Prudential Financial 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.