Prudential Financial, Inc. (NYSE:PRU) Holdings Raised by Natixis Advisors LLC

Natixis Advisors LLC grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 6.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,319 shares of the financial services provider's stock after purchasing an additional 8,078 shares during the quarter. Natixis Advisors LLC's holdings in Prudential Financial were worth $16,509,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PRU. Legal & General Group Plc increased its holdings in shares of Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock valued at $415,134,000 after acquiring an additional 305,143 shares in the last quarter. abrdn plc increased its holdings in shares of Prudential Financial by 4.0% during the third quarter. abrdn plc now owns 1,309,155 shares of the financial services provider's stock valued at $158,120,000 after acquiring an additional 50,026 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider's stock worth $157,219,000 after buying an additional 1,267,571 shares during the period. AustralianSuper Pty Ltd increased its holdings in Prudential Financial by 2.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider's stock worth $153,312,000 after buying an additional 28,459 shares during the period. Finally, Federated Hermes Inc. increased its holdings in Prudential Financial by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider's stock worth $120,181,000 after buying an additional 82,620 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PRU shares. Wells Fargo & Company upped their price objective on Prudential Financial from $116.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. UBS Group upped their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 13th. Bank of America upped their price objective on Prudential Financial from $109.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Citigroup upped their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $125.69.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company's stock in a transaction on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company's stock, valued at $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

Prudential Financial Price Performance

Shares of PRU traded down $0.85 during trading hours on Wednesday, reaching $123.76. 376,224 shares of the company traded hands, compared to its average volume of 1,496,849. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $44.06 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a fifty-two week low of $93.60 and a fifty-two week high of $129.13. The stock has a fifty day simple moving average of $122.67 and a 200 day simple moving average of $119.53.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period last year, the business posted $3.44 EPS. As a group, research analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial's payout ratio is currently 46.22%.

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.