Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 555,533 shares of the financial services provider's stock after purchasing an additional 32,563 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Prudential Financial worth $66,186,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PRU. Grove Bank & Trust lifted its stake in Prudential Financial by 65.9% in the fourth 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. Centricity Wealth Management LLC purchased a new position in Prudential Financial during the 4th quarter valued at $29,000. CGC Financial Services LLC increased its stake in Prudential Financial by 82.1% in the fourth 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 period. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial during the fourth quarter worth $33,000. Finally, Quarry LP boosted its stake in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 222 shares during the period. Institutional investors own 56.83% of the company's stock.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction 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 $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Morgan Stanley lowered their price target on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. BMO Capital Markets assumed coverage on Prudential Financial in a report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective on the stock. Barclays upped their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Finally, Piper Sandler cut their price target on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $126.15.

Prudential Financial Stock Up 1.5 %

Shares of PRU stock traded up $1.70 during trading hours on Monday, reaching $111.77. 1,892,917 shares of the company's stock were exchanged, compared to its average volume of 1,539,831. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market cap of $40.01 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a fifty-two week low of $104.45 and a fifty-two week high of $130.55. The stock's 50 day moving average is $113.09 and its 200-day moving average is $118.98.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results 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%. Analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.83%. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.

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.