Nebula Research & Development LLC Invests $3.36 Million in Prudential Financial, Inc. (NYSE:PRU)

Nebula Research & Development LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,333 shares of the financial services provider's stock, valued at approximately $3,358,000. Prudential Financial comprises about 0.4% of Nebula Research & Development LLC's portfolio, making the stock its 28th largest holding.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock worth $4,960,547,000 after acquiring an additional 220,671 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Prudential Financial by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock worth $1,050,635,000 after acquiring an additional 193,681 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Prudential Financial by 0.3% in the 4th 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 buying an additional 6,938 shares during the period. Charles Schwab Investment Management Inc. raised its position in Prudential Financial by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider's stock worth $285,601,000 after buying an additional 26,210 shares during the last quarter. Finally, Amundi lifted its stake in shares of Prudential Financial by 32.7% in the 4th quarter. Amundi now owns 1,535,514 shares of the financial services provider's stock worth $181,851,000 after acquiring an additional 378,266 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price target for the company. Wells Fargo & Company dropped their target price on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Piper Sandler lowered their price target on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. UBS Group lowered their price target on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $121.85.

Prudential Financial Stock Up 0.7 %

Shares of NYSE:PRU traded up $0.76 during trading on Monday, hitting $103.66. The company's stock had a trading volume of 1,021,331 shares, compared to its average volume of 1,606,806. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The stock's 50-day moving average price is $106.64 and its two-hundred day moving average price is $116.14. The company has a market capitalization of $36.74 billion, a PE ratio of 13.88, a PEG ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. This is a boost 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 5.21%. Prudential Financial's payout ratio is 72.29%.

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.