Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,265,996 shares of the financial services provider's stock after buying an additional 28,459 shares during the period. AustralianSuper Pty Ltd owned approximately 0.35% of Prudential Financial worth $153,312,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRU. Legal & General Group Plc lifted its stake in shares of Prudential Financial by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock valued at $415,134,000 after purchasing an additional 305,143 shares during the last quarter. abrdn plc raised its holdings in shares of Prudential Financial by 4.0% in the third quarter. abrdn plc now owns 1,309,155 shares of the financial services provider's stock worth $158,120,000 after buying an additional 50,026 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Prudential Financial by 4,130.8% in the third 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. Federated Hermes Inc. raised its holdings in shares of Prudential Financial by 8.8% in the second 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. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Prudential Financial by 7.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider's stock worth $108,788,000 after buying an additional 62,578 shares during the period. 56.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares of the company's stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Ann M. Kappler sold 2,839 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company's stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value 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 disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Prudential Financial Stock Down 3.3 %

Shares of Prudential Financial stock traded down $4.18 during trading on Thursday, reaching $122.46. The company's stock had a trading volume of 2,082,916 shares, compared to its average volume of 1,480,494. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The company has a market cap of $43.72 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 0.94 and a beta of 1.30. Prudential Financial, Inc. has a 1-year low of $89.90 and a 1-year high of $128.52. The company has a 50-day simple moving average of $120.88 and a two-hundred day simple moving average of $118.13.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts' expectations of $14.57 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. During the same quarter last year, the firm earned $3.44 EPS. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. 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 4.25%. Prudential Financial's dividend payout ratio is currently 66.84%.

Analyst Ratings Changes

Several research analysts have commented on PRU shares. Barclays started coverage on Prudential Financial in a report on Wednesday, September 4th. They set an "equal weight" rating and a $118.00 price objective on the stock. Argus upgraded Prudential Financial to a "strong-buy" rating in a report on Thursday, August 8th. UBS Group raised their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a "neutral" rating in a report on Tuesday, August 13th. Citigroup raised 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. Finally, Piper Sandler raised their price objective on Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $123.69.

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.