Prudential Financial, Inc. (NYSE:PRU) Holdings Lifted by National Bank of Canada FI

National Bank of Canada FI grew its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 53.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 234,224 shares of the financial services provider's stock after purchasing an additional 81,730 shares during the period. National Bank of Canada FI owned approximately 0.07% of Prudential Financial worth $28,365,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in Prudential Financial by 0.3% in the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock worth $2,059,549,000 after buying an additional 49,830 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock worth $415,134,000 after acquiring an additional 305,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Prudential Financial by 1.6% in the third 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 valued at $370,327,000 after purchasing an additional 47,561 shares during the last quarter. FMR LLC increased its holdings in Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock worth $174,903,000 after purchasing an additional 344,254 shares during the last quarter. Finally, abrdn plc raised its position in shares of Prudential Financial by 4.0% in the 3rd quarter. abrdn plc now owns 1,309,155 shares of the financial services provider's stock valued at $158,120,000 after purchasing an additional 50,026 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of PRU stock traded down $1.32 during trading hours on Tuesday, reaching $121.24. The stock had a trading volume of 1,383,947 shares, compared to its average volume of 1,494,657. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a 50-day simple moving average of $124.95 and a 200-day simple moving average of $120.43. The firm has a market capitalization of $43.16 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a twelve month low of $100.60 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion for the quarter, compared to analysts' expectations of $14.57 billion. During the same quarter in the previous year, the company posted $3.44 earnings per share. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.29%. Prudential Financial's payout ratio is 46.22%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PRU shares. TD Cowen raised their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. Barclays boosted their price objective on Prudential Financial from $118.00 to $119.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Morgan Stanley reduced their target price on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. Finally, Bank of America upped their price target on Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $126.33.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm's stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares of the company's stock, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company's stock.

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.