Mirae Asset Global Investments Co. Ltd. Buys 7,977 Shares of Prudential Financial, Inc. (NYSE:PRU)

Mirae Asset Global Investments Co. Ltd. grew its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 27.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,466 shares of the financial services provider's stock after acquiring an additional 7,977 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Prudential Financial were worth $4,426,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Grove Bank & Trust raised its position in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Prudential Financial in the 3rd quarter worth approximately $31,000. CGC Financial Services LLC raised its position in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after purchasing an additional 124 shares during the last quarter. Quarry LP raised its position in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider's stock worth $34,000 after purchasing an additional 222 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in Prudential Financial in the 4th quarter worth approximately $37,000. Institutional investors own 56.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company lowered their target price on shares of Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating for the company in a report on Tuesday, January 14th. TD Cowen lifted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. Evercore ISI raised shares of Prudential Financial from an "underperform" rating to an "inline" rating and lifted their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Barclays boosted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $125.46.

Prudential Financial Stock Down 0.7 %

Shares of NYSE:PRU traded down $0.82 during midday trading on Wednesday, hitting $110.82. 2,105,768 shares of the company's stock were exchanged, compared to its average volume of 1,758,545. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. The stock has a 50 day moving average price of $118.78 and a 200-day moving average price of $120.07. The company has a market cap of $39.45 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. Prudential Financial, Inc. has a 12 month low of $104.02 and a 12 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 (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%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial's dividend payout ratio is presently 69.61%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company's stock.

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.