Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC lifted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 45.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,741 shares of the financial services provider's stock after purchasing an additional 10,591 shares during the quarter. Mizuho Securities USA LLC's holdings in Prudential Financial were worth $3,999,000 at the end of the most recent quarter.

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

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Prudential Financial Price Performance

Shares of NYSE:PRU traded down $1.09 during trading on Thursday, hitting $114.50. 1,716,710 shares of the stock were exchanged, compared to its average volume of 1,440,850. 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 $40.99 billion, a PE ratio of 15.33, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55. The company has a fifty day moving average price of $113.35 and a two-hundred day moving average price of $118.98.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results 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 net margin of 4.01% and a return on equity of 15.86%. On average, analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This is an increase 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 dividend yield of 4.72%. Prudential Financial's dividend payout ratio is presently 72.29%.

Insiders Place Their Bets

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the business'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 of the company's stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the acquisition, the insider now directly owns 139,987 shares of the company's stock, valued at $3,992,429.24. The trade was a 60.18 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Piper Sandler lowered their price target on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Jefferies Financial Group boosted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Wells Fargo & Company increased their price target on Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. Finally, Morgan Stanley reduced their target price on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $126.15.

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.