Elo Mutual Pension Insurance Co Buys 3,909 Shares of Prudential Financial, Inc. (NYSE:PRU)

Elo Mutual Pension Insurance Co raised its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,598 shares of the financial services provider's stock after purchasing an additional 3,909 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Prudential Financial were worth $4,219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRU. Vanguard Group Inc. raised its position in Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock valued at $4,960,547,000 after acquiring an additional 220,671 shares in the last quarter. State Street Corp raised its holdings in shares of Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock valued at $2,059,549,000 after purchasing an additional 49,830 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock valued at $1,047,872,000 after purchasing an additional 341,787 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Prudential Financial by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider's stock worth $370,327,000 after acquiring an additional 47,561 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Prudential Financial by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider's stock worth $290,906,000 after buying an additional 6,938 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

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Prudential Financial Price Performance

Shares of NYSE:PRU traded up $1.30 on Monday, hitting $111.37. The stock had a trading volume of 689,635 shares, compared to its average volume of 1,535,434. The company has a market capitalization of $39.87 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. 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 firm's 50 day moving average price is $113.09 and its 200-day moving average price is $118.98. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate 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 predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.85%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's payout ratio is currently 72.29%.

Insider Activity

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the transaction, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler decreased their target price on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an "underperform" rating and a $101.00 target price for the company. Keefe, Bruyette & Woods decreased 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. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley reduced their price objective on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $126.15.

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.