International Assets Investment Management LLC increased its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4,130.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,298,257 shares of the financial services provider's stock after acquiring an additional 1,267,571 shares during the period. International Assets Investment Management LLC owned approximately 0.36% of Prudential Financial worth $157,219,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in PRU. Creekmur Asset Management LLC lifted its stake in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Prudential Financial in the 2nd quarter valued at approximately $29,000. Strategic Financial Concepts LLC lifted its position in shares of Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 25,027 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $33,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $34,000. 56.83% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
PRU has been the subject of several research analyst reports. Piper Sandler upped their price target 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. TD Cowen initiated coverage on shares of Prudential Financial in a research report on Wednesday, October 9th. They issued a "hold" rating and a $130.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 2nd. Morgan Stanley cut their target price on shares of Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. Finally, Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $123.69.
Get Our Latest Research Report on Prudential Financial
Insider Activity at Prudential Financial
In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the firm's 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 of the company's stock, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.
Prudential Financial Stock Performance
NYSE:PRU traded down $1.90 during midday trading on Friday, reaching $123.46. The stock had a trading volume of 1,247,175 shares, compared to its average volume of 1,476,441. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $128.52. The firm's fifty day simple moving average is $120.20 and its 200-day simple moving average is $117.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $44.08 billion, a P/E ratio of 15.87, a PEG ratio of 0.96 and a beta of 1.30.
Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. On average, equities research analysts forecast that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal year.
Prudential Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.21%. Prudential Financial's payout ratio is presently 66.84%.
About Prudential Financial
(
Free Report)
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.
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