66,911 Shares in Prudential Financial, Inc. (NYSE:PRU) Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 66,911 shares of the financial services provider's stock, valued at approximately $8,103,000.

Other large investors have also bought and sold shares of the company. Lynx Investment Advisory purchased a new position in shares of Prudential Financial during the second quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial during the 3rd quarter valued at $31,000. Strategic Financial Concepts LLC lifted its holdings in shares of Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider's stock valued at $32,000 after buying an additional 25,027 shares during the period. Bank & Trust Co bought a new stake in shares of Prudential Financial in the second quarter worth $37,000. Finally, Hobbs Group Advisors LLC bought a new position in Prudential Financial in the second quarter valued at about $38,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Down 0.1 %

NYSE PRU traded down $0.11 during trading on Friday, hitting $129.41. The stock had a trading volume of 781,112 shares, compared to its average volume of 1,621,168. The stock has a market capitalization of $46.07 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 0.93 and a beta of 1.29. The stock has a 50 day simple moving average of $124.24 and a 200 day simple moving average of $120.11. Prudential Financial, Inc. has a one year low of $96.45 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

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

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.02%. Prudential Financial's dividend payout ratio is presently 46.22%.

Analysts Set New Price Targets

PRU has been the topic of a number of research reports. Barclays raised their price objective 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. Piper Sandler raised their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Wells Fargo & Company raised their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley reduced their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research note on Monday, August 19th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $125.92.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company's stock, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the company'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 completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, 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 company insiders.

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.