Point72 Asia Singapore Pte. Ltd. Acquires Shares of 5,709 Prudential Financial, Inc. (NYSE:PRU)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,709 shares of the financial services provider's stock, valued at approximately $691,000.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Prudential Financial by 83.8% in the first quarter. EverSource Wealth Advisors LLC now owns 1,439 shares of the financial services provider's stock valued at $159,000 after purchasing an additional 656 shares in the last quarter. DNB Asset Management AS grew its stake in shares of Prudential Financial by 7.6% in the 2nd quarter. DNB Asset Management AS now owns 62,274 shares of the financial services provider's stock worth $7,298,000 after acquiring an additional 4,388 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Prudential Financial in the second quarter valued at about $82,000. Bank & Trust Co purchased a new position in Prudential Financial during the second quarter worth about $37,000. Finally, Mather Group LLC. grew its position in Prudential Financial by 67.1% in the 2nd quarter. Mather Group LLC. now owns 1,133 shares of the financial services provider's stock worth $133,000 after purchasing an additional 455 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Shares of PRU stock traded down $1.27 during trading hours on Monday, reaching $128.14. The stock had a trading volume of 396,518 shares, compared to its average volume of 1,491,142. The stock's fifty day simple moving average is $124.24 and its 200 day simple moving average is $120.12. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $45.62 billion, a PE ratio of 11.38, a PEG ratio of 0.93 and a beta of 1.29. Prudential Financial, Inc. has a 12 month low of $96.87 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to analysts' expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the prior year, the firm posted $3.44 earnings per share. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Tuesday, November 19th. Prudential Financial's payout ratio is 46.22%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the company'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 sale, the executive vice president now owns 10,175 shares of the company's stock, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Argus upgraded Prudential Financial to a "strong-buy" rating in a research note on Thursday, August 8th. TD Cowen boosted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. UBS Group raised their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a "neutral" rating in a report on Tuesday, August 13th. Bank of America increased their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Finally, Barclays lifted their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $125.92.

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.