Bridgewater Associates LP Boosts Holdings in Prudential Financial, Inc. (NYSE:PRU)

Bridgewater Associates LP increased its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 41.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 388,349 shares of the financial services provider's stock after buying an additional 114,459 shares during the period. Bridgewater Associates LP owned about 0.11% of Prudential Financial worth $46,031,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. AGP Franklin LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth $944,000. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Prudential Financial during the fourth quarter valued at about $683,000. XTX Topco Ltd purchased a new position in shares of Prudential Financial in the 4th quarter worth approximately $1,015,000. CreativeOne Wealth LLC raised its stake in shares of Prudential Financial by 20.6% during the 4th quarter. CreativeOne Wealth LLC now owns 19,838 shares of the financial services provider's stock worth $2,351,000 after acquiring an additional 3,392 shares in the last quarter. Finally, Mariner LLC lifted its position in Prudential Financial by 3.7% during the fourth quarter. Mariner LLC now owns 1,476,899 shares of the financial services provider's stock valued at $175,051,000 after acquiring an additional 52,010 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Insiders Place Their Bets

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. 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 87,047 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the transaction, the insider now owns 87,047 shares of the company's stock, valued at $2,499,989.84. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Stock Performance

NYSE PRU traded up $0.77 during mid-day trading on Friday, reaching $99.39. 1,480,033 shares of the stock were exchanged, compared to its average volume of 1,600,586. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The business's 50 day moving average is $107.93 and its 200-day moving average is $117.03. The company has a market capitalization of $35.23 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 5.43%. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley decreased their price objective on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler reduced their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company dropped their price target on Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $121.85.

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.