Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH grew its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 11.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 62,890 shares of the financial services provider's stock after acquiring an additional 6,607 shares during the period. Erste Asset Management GmbH's holdings in Prudential Financial were worth $7,488,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PRU. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial in the third quarter valued at approximately $31,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Prudential Financial by 0.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 797,604 shares of the financial services provider's stock valued at $96,590,000 after purchasing an additional 3,000 shares in the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of Prudential Financial by 5.2% in the third quarter. Aptus Capital Advisors LLC now owns 5,527 shares of the financial services provider's stock valued at $669,000 after purchasing an additional 275 shares in the last quarter. MQS Management LLC acquired a new position in shares of Prudential Financial in the third quarter valued at approximately $548,000. Finally, Cable Hill Partners LLC grew its holdings in shares of Prudential Financial by 8.7% in the third quarter. Cable Hill Partners LLC now owns 2,092 shares of the financial services provider's stock valued at $253,000 after purchasing an additional 167 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Morgan Stanley lowered their price target on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Barclays boosted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Prudential Financial currently has a consensus rating of "Hold" and an average price target of $126.15.

Prudential Financial Stock Performance

PRU stock traded down $0.64 on Tuesday, hitting $109.65. The company's stock had a trading volume of 1,490,167 shares, compared to its average volume of 1,428,064. The firm has a 50 day moving average of $114.15 and a two-hundred day moving average of $119.32. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55. The stock has a market cap of $39.25 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a $1.35 dividend. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.92%. Prudential Financial's dividend payout ratio is 72.29%.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

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.