Mitsubishi UFJ Trust & Banking Corp Has $20.31 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 171,382 shares of the financial services provider's stock after selling 3,655 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Prudential Financial were worth $20,314,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Grove Bank & Trust grew 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 valued at $26,000 after purchasing an additional 87 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial in the fourth quarter worth $29,000. CGC Financial Services LLC lifted its stake in Prudential Financial by 82.1% during 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 last quarter. Wingate Wealth Advisors Inc. acquired a new position in Prudential Financial during the fourth quarter worth about $33,000. Finally, Quarry LP increased its holdings 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 in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Trading Up 1.1 %

NYSE PRU traded up $1.22 during trading hours on Monday, reaching $111.29. The company had a trading volume of 650,964 shares, compared to its average volume of 1,535,006. 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 stock has a 50-day moving average of $113.09 and a 200 day moving average of $118.98. Prudential Financial, Inc. has a 1-year low of $104.45 and a 1-year high of $130.55. The stock has a market capitalization of $39.84 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28.

Remove Ads

Prudential Financial (NYSE:PRU - Get Free Report) last issued its 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%. As a group, research analysts anticipate 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. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.85%. Prudential Financial's dividend payout ratio is 72.29%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were bought at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the acquisition, the insider now owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. This trade represents a 60.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 owns 27,072 shares in the company, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on PRU. Jefferies Financial Group lifted their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. Barclays lifted their target price on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Wells Fargo & Company raised their price target on Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley lowered their price target on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Prudential Financial presently has an average rating of "Hold" and a consensus price target of $126.15.

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.