abrdn plc Purchases 50,026 Shares of Prudential Financial, Inc. (NYSE:PRU)

abrdn plc grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,309,155 shares of the financial services provider's stock after purchasing an additional 50,026 shares during the period. abrdn plc owned approximately 0.37% of Prudential Financial worth $158,120,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in PRU. Creekmur Asset Management LLC boosted its stake in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider's stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of Prudential Financial in the second quarter worth approximately $29,000. Strategic Financial Concepts LLC raised its holdings in shares of Prudential Financial by 1,312.4% during the second 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 during the period. 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 acquired a new position in Prudential Financial in the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PRU. Argus upgraded Prudential Financial to a "strong-buy" rating in a report on Thursday, August 8th. Piper Sandler raised their price objective on Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Morgan Stanley decreased their price target on shares of Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. UBS Group lifted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the company a "neutral" rating in a research note on Tuesday, August 13th. Finally, Citigroup increased their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a "neutral" rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $123.69.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded down $0.33 during trading on Tuesday, reaching $125.27. The company's stock had a trading volume of 1,247,766 shares, compared to its average volume of 1,474,819. Prudential Financial, Inc. has a one year low of $89.09 and a one year high of $128.52. The firm has a market cap of $44.72 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 0.94 and a beta of 1.30. The business's fifty day moving average price is $120.39 and its 200-day moving average price is $117.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts' consensus estimates of $3.43 by ($0.04). The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, equities research analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.15%. The ex-dividend date was Tuesday, August 20th. Prudential Financial's payout ratio is presently 66.84%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm's stock in a transaction on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, with a total value 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 approximately $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company's stock.

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.