Fmr LLC Has $174.90 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

FMR LLC increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 31.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,444,288 shares of the financial services provider's stock after acquiring an additional 344,254 shares during the period. FMR LLC owned approximately 0.41% of Prudential Financial worth $174,903,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRU. International Assets Investment Management LLC raised its position in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider's stock valued at $157,219,000 after purchasing an additional 1,267,571 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider's stock valued at $84,874,000 after purchasing an additional 357,300 shares in the last quarter. Legal & General Group Plc raised its position in shares of Prudential Financial by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock valued at $415,134,000 after purchasing an additional 305,143 shares in the last quarter. Capital Advisors Inc. OK acquired a new position in shares of Prudential Financial in the 3rd quarter valued at approximately $30,226,000. Finally, OFI Invest Asset Management raised its position in shares of Prudential Financial by 10,529.7% in the 2nd quarter. OFI Invest Asset Management now owns 155,513 shares of the financial services provider's stock valued at $17,004,000 after purchasing an additional 154,050 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRU has been the topic of several research reports. Piper Sandler upped their price target on Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on Prudential Financial from $116.00 to $117.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. TD Cowen upped their price target on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. Bank of America upped their price objective on Prudential Financial from $109.00 to $118.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Finally, Evercore ISI upgraded Prudential Financial from an "underperform" rating to an "inline" rating and upped their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Eleven equities research 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 stock. According to data from MarketBeat, Prudential Financial currently has a consensus rating of "Hold" and a consensus price target of $125.92.

Prudential Financial Price Performance

Shares of Prudential Financial stock traded down $0.97 during trading on Tuesday, hitting $127.44. The stock had a trading volume of 380,585 shares, compared to its average volume of 1,491,149. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market cap of $45.37 billion, a P/E ratio of 11.42, a PEG ratio of 0.93 and a beta of 1.29. The business has a fifty day moving average of $124.24 and a two-hundred day moving average of $120.12. Prudential Financial, Inc. has a fifty-two week low of $96.87 and a fifty-two week 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 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates 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 in the prior year, the firm posted $3.44 earnings per share. On average, sell-side analysts expect that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Tuesday, November 19th. Prudential Financial's dividend payout ratio is 46.22%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

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.