Daiwa Securities Group Inc. Has $5.56 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Daiwa Securities Group Inc. grew its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,915 shares of the financial services provider's stock after purchasing an additional 2,772 shares during the period. Daiwa Securities Group Inc.'s holdings in Prudential Financial were worth $5,561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PRU. Glenmede Trust Co. NA raised its stake in shares of Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider's stock valued at $2,176,000 after buying an additional 1,234 shares in the last quarter. Avanza Fonder AB acquired a new position in Prudential Financial in the fourth quarter worth about $3,423,000. Gateway Investment Advisers LLC boosted its holdings in Prudential Financial by 56.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock valued at $2,607,000 after purchasing an additional 7,907 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Prudential Financial by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock valued at $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Prudential Financial by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider's stock worth $9,597,000 after buying an additional 1,765 shares in the last quarter. Institutional investors own 56.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on PRU. BMO Capital Markets started coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. Barclays raised their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Finally, Piper Sandler reduced their target price on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Prudential Financial currently has a consensus rating of "Hold" and an average price target of $126.15.

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Prudential Financial Trading Up 0.5 %

PRU stock opened at $106.16 on Thursday. The business has a fifty day moving average of $114.79 and a 200-day moving average of $119.54. The company has a market cap of $38.00 billion, a P/E ratio of 14.21, a PEG ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS 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%. As a group, equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend is Tuesday, February 18th. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio is presently 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.

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