Prudential Financial, Inc. (NYSE:PRU) Stock Position Increased by Bank of Montreal Can

Bank of Montreal Can boosted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 10.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 715,070 shares of the financial services provider's stock after purchasing an additional 66,434 shares during the quarter. Bank of Montreal Can owned approximately 0.20% of Prudential Financial worth $86,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PRU. Annex Advisory Services LLC increased its position in Prudential Financial by 3.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider's stock worth $289,000 after purchasing an additional 81 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider's stock valued at $951,000 after acquiring an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider's stock valued at $891,000 after purchasing an additional 89 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in shares of Prudential Financial by 3.9% in the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider's stock worth $284,000 after buying an additional 92 shares during the period. Finally, Jaffetilchin Investment Partners LLC grew its stake in shares of Prudential Financial by 4.6% in the first quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider's stock valued at $250,000 after buying an additional 94 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

PRU traded up $1.09 on Wednesday, hitting $130.20. 140,890 shares of the company's stock were exchanged, compared to its average volume of 1,495,172. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average of $123.72 and a two-hundred day moving average of $119.89. Prudential Financial, Inc. has a twelve month low of $95.10 and a twelve month high of $130.55. The firm has a market cap of $46.35 billion, a PE ratio of 11.48, a P/E/G ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. The business 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 last year, the business posted $3.44 EPS. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 3.99%. Prudential Financial's dividend payout ratio is currently 46.22%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PRU shares. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Bank of America boosted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Piper Sandler raised their target price on Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. UBS Group boosted their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Finally, Barclays raised their price objective on Prudential Financial from $118.00 to $119.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. 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. According to data from MarketBeat.com, Prudential Financial presently has a consensus rating of "Hold" and an average price target of $125.69.

Insider Buying and Selling

In related news, EVP Caroline Feeney sold 1,110 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company's stock, valued at $1,220,694.75. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 6.61 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company's stock.

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.