FNY Investment Advisers LLC Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

FNY Investment Advisers LLC purchased a new position in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 14,500 shares of the financial services provider's stock, valued at approximately $1,718,000.

A number of other hedge funds have also made changes to their positions in PRU. International Assets Investment Management LLC grew its stake 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 worth $157,219,000 after purchasing an additional 1,267,571 shares during the last quarter. Nordea Investment Management AB grew its position in Prudential Financial by 176.8% during the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider's stock worth $123,804,000 after purchasing an additional 665,180 shares in the last quarter. AQR Capital Management LLC lifted its stake in 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 worth $84,874,000 after acquiring an additional 357,300 shares in the last quarter. FMR LLC increased its holdings in shares of Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock valued at $174,903,000 after purchasing an additional 344,254 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after purchasing an additional 341,787 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares of the company's stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating on the stock in a report on Tuesday. Evercore ISI raised Prudential Financial from an "underperform" rating to an "inline" rating and upped their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Bank of America lifted 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. Barclays raised their price objective on shares of Prudential Financial from $119.00 to $129.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Finally, Piper Sandler raised their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $127.00.

Prudential Financial Price Performance

PRU traded up $1.37 during midday trading on Tuesday, hitting $117.66. The company had a trading volume of 1,343,464 shares, compared to its average volume of 1,265,365. Prudential Financial, Inc. has a twelve month low of $100.60 and a twelve month high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The firm's 50-day simple moving average is $122.43 and its 200-day simple moving average is $120.66. The company has a market capitalization of $41.89 billion, a PE ratio of 10.46, a P/E/G ratio of 0.87 and a beta of 1.31.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analysts' expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the company earned $3.44 EPS. Equities research analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were given a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.42%. Prudential Financial's dividend payout ratio is 46.22%.

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.