Generali Asset Management SPA SGR Takes $6.45 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Generali Asset Management SPA SGR purchased a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 54,375 shares of the financial services provider's stock, valued at approximately $6,445,000.

A number of other hedge funds have also bought and sold shares of PRU. State Street Corp increased its holdings in shares of Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock worth $2,059,549,000 after purchasing an additional 49,830 shares during the period. Geode Capital Management LLC increased its stake in Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after acquiring an additional 341,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prudential Financial by 1.6% in 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 valued at $370,327,000 after acquiring an additional 47,561 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Prudential Financial by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider's stock valued at $290,906,000 after acquiring an additional 6,938 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Prudential Financial by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider's stock worth $285,601,000 after purchasing an additional 26,210 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PRU shares. Morgan Stanley cut their price objective on shares of 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. Piper Sandler reduced their price target on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. 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 target price for the company. Finally, Barclays lifted their price target on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of "Hold" and an average price target of $126.15.

Prudential Financial Trading Down 0.4 %

NYSE PRU traded down $0.43 on Friday, reaching $110.35. The company had a trading volume of 3,274,047 shares, compared to its average volume of 1,432,523. The business has a 50 day moving average of $113.57 and a two-hundred day moving average of $119.04. Prudential Financial, Inc. has a fifty-two week low of $104.45 and a fifty-two week high of $130.55. The firm has a market cap of $39.51 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.89%. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio is 72.29%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the transaction, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company's stock.

Prudential Financial Company 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.