Czech National Bank Purchases 4,464 Shares of Prudential Financial, Inc. (NYSE:PRU)

Czech National Bank lifted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,188 shares of the financial services provider's stock after acquiring an additional 4,464 shares during the quarter. Czech National Bank's holdings in Prudential Financial were worth $9,149,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Graypoint LLC boosted its position in shares of Prudential Financial by 1.4% in the fourth quarter. Graypoint LLC now owns 7,020 shares of the financial services provider's stock worth $832,000 after buying an additional 98 shares during the period. Lowe Wealth Advisors LLC boosted its position in Prudential Financial by 13.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 1,103 shares of the financial services provider's stock worth $131,000 after acquiring an additional 127 shares during the period. ST Germain D J Co. Inc. increased its holdings in shares of Prudential Financial by 55.9% in the 4th quarter. ST Germain D J Co. Inc. now owns 837 shares of the financial services provider's stock valued at $99,000 after purchasing an additional 300 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Prudential Financial by 2.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 53,909 shares of the financial services provider's stock worth $6,528,000 after purchasing an additional 1,326 shares during the period. Finally, Nordea Investment Management AB grew its position in Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider's stock valued at $123,804,000 after purchasing an additional 665,180 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Performance

NYSE:PRU traded up $2.49 during mid-day trading on Wednesday, hitting $120.10. 1,429,329 shares of the company's stock traded hands, compared to its average volume of 1,334,437. The firm has a market capitalization of $42.76 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31. The firm has a 50 day moving average of $122.38 and a two-hundred day moving average of $120.67. 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 12 month low of $100.60 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business earned $3.44 earnings per share. On average, equities analysts forecast that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.33%. The ex-dividend date was Tuesday, November 19th. Prudential Financial's dividend payout ratio (DPR) is presently 46.22%.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company's stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PRU. Evercore ISI raised shares of Prudential Financial from an "underperform" rating to an "inline" rating and upped their price target for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Barclays boosted their target price on shares of Prudential Financial from $119.00 to $129.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. TD Cowen raised their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Wells Fargo & Company decreased their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating for the company in a report on Tuesday. Finally, Piper Sandler raised their target price on Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $127.00.

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.