MQS Management LLC Buys New Holdings in Prudential Financial, Inc. (NYSE:PRU)

MQS Management LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,528 shares of the financial services provider's stock, valued at approximately $548,000.

Several other large investors also recently modified their holdings of PRU. Creekmur Asset Management LLC boosted its holdings in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider's stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of Prudential Financial in the 2nd quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Prudential Financial during the 3rd quarter worth $31,000. Crewe Advisors LLC acquired a new position in Prudential Financial during the 1st quarter worth $33,000. Finally, ESL Trust Services LLC acquired a new position in Prudential Financial during the 1st quarter worth $34,000. 56.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 6.61 % 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.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRU. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. TD Cowen began coverage on Prudential Financial in a report on Wednesday, October 9th. They set a "hold" rating and a $130.00 price objective on the stock. Piper Sandler upped their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company upped their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has an average rating of "Hold" and a consensus price target of $125.69.

Prudential Financial Stock Up 0.4 %

PRU stock traded up $0.49 during trading hours on Thursday, reaching $125.75. 1,114,971 shares of the stock were exchanged, compared to its average volume of 1,495,593. The firm's 50-day moving average is $121.76 and its 200-day moving average is $119.06. The company has a market cap of $44.77 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.89 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial, Inc. has a 12 month low of $93.32 and a 12 month high of $129.13.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts' expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the company earned $3.44 EPS. On average, equities research analysts expect that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Tuesday, November 19th. Prudential Financial's dividend payout ratio (DPR) is presently 46.22%.

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.