National Bank of Canada FI Buys 14,671 Shares of Prudential Financial, Inc. (NYSE:PRU)

National Bank of Canada FI raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 248,895 shares of the financial services provider's stock after purchasing an additional 14,671 shares during the quarter. National Bank of Canada FI owned 0.07% of Prudential Financial worth $29,501,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Avanza Fonder AB acquired a new position in Prudential Financial in the 4th quarter valued at approximately $3,423,000. Gateway Investment Advisers LLC increased its holdings in Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock valued at $2,607,000 after buying an additional 7,907 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock worth $50,830,000 after acquiring an additional 15,695 shares during the period. Janus Henderson Group PLC increased its stake in Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider's stock valued at $9,597,000 after acquiring an additional 1,765 shares during the period. Finally, HighTower Advisors LLC lifted its stake in Prudential Financial by 18.7% during the third quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider's stock worth $8,395,000 after purchasing an additional 10,964 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now directly owns 87,047 shares of the company's stock, valued at $2,499,989.84. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now 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 disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.

Prudential Financial Trading Down 1.9 %

NYSE PRU traded down $1.86 on Monday, reaching $94.67. The company had a trading volume of 1,328,774 shares, compared to its average volume of 1,821,441. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The stock has a market cap of $33.56 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 0.98 and a beta of 1.11. The stock's 50 day moving average is $112.03 and its 200-day moving average is $118.62.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 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%. Equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 5.70%. Prudential Financial's dividend payout ratio is presently 72.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PRU shares. Wells Fargo & Company increased their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price target on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. UBS Group dropped their price objective on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Morgan Stanley cut 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. One investment analyst has rated the stock with a sell rating, ten have issued 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.com, the stock currently has a consensus rating of "Hold" and an average target price of $126.08.

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.