B. Metzler seel. Sohn & Co. Holding AG Purchases New Position in Prudential Financial, Inc. (NYSE:PRU)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 23,752 shares of the financial services provider's stock, valued at approximately $2,876,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock valued at $415,134,000 after purchasing an additional 305,143 shares in the last quarter. abrdn plc boosted its holdings in shares of Prudential Financial by 4.0% during the 3rd quarter. abrdn plc now owns 1,309,155 shares of the financial services provider's stock valued at $158,120,000 after buying an additional 50,026 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider's stock worth $157,219,000 after buying an additional 1,267,571 shares during the period. AustralianSuper Pty Ltd lifted its position in Prudential Financial by 2.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider's stock valued at $153,312,000 after acquiring an additional 28,459 shares during the period. Finally, Swiss National Bank boosted its stake in Prudential Financial by 0.3% during the third quarter. Swiss National Bank now owns 1,065,600 shares of the financial services provider's stock worth $129,044,000 after acquiring an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Wall Street Analyst Weigh In

PRU has been the subject of several recent research reports. Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a report on Thursday, August 8th. Wells Fargo & Company lifted their price objective on Prudential Financial from $116.00 to $117.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 5th. Barclays increased their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $125.69.

Insiders Place Their Bets

In other news, EVP Caroline Feeney sold 1,110 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the acquisition, the insider now directly owns 4,208,549 shares of the company's stock, valued at approximately $116,071,781.42. This represents a 6.61 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.31% of the company's stock.

Prudential Financial Price Performance

Shares of PRU opened at $124.11 on Thursday. The firm has a fifty day simple moving average of $122.86 and a two-hundred day simple moving average of $119.56. The firm has a market cap of $44.18 billion, a PE ratio of 11.03, a P/E/G ratio of 0.89 and a beta of 1.29. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 1-year low of $93.60 and a 1-year high of $129.13.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the company earned $3.44 earnings per share. On average, equities analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.19%. Prudential Financial's dividend payout ratio is currently 46.22%.

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.