Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 49.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,600 shares of the financial services provider's stock after acquiring an additional 5,825 shares during the period. Van ECK Associates Corp's holdings in Prudential Financial were worth $2,203,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PRU. Legal & General Group Plc lifted its holdings 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 worth $415,134,000 after acquiring an additional 305,143 shares during the last quarter. abrdn plc lifted its stake in Prudential Financial by 4.0% during the third quarter. abrdn plc now owns 1,309,155 shares of the financial services provider's stock worth $158,120,000 after purchasing an additional 50,026 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Prudential Financial by 4,130.8% during 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. AustralianSuper Pty Ltd grew its stake in shares of Prudential Financial by 2.3% in the third quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider's stock valued at $153,312,000 after buying an additional 28,459 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Prudential Financial by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider's stock valued at $120,181,000 after buying an additional 82,620 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial 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 transaction, the executive vice president now directly owns 10,175 shares of the company's stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were 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 owns 4,208,549 shares of the company's stock, valued at $116,071,781.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company's stock, valued at $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 owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. TD Cowen began coverage on Prudential Financial in a research report on Wednesday, October 9th. They issued a "hold" rating and a $130.00 target price for the company. Barclays upped their target price on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Piper Sandler boosted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. Argus raised Prudential Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Finally, Bank of America lifted their target price on Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven 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 has an average rating of "Hold" and a consensus price target of $123.85.

Prudential Financial Stock Up 2.6 %

Prudential Financial stock traded up $3.11 during mid-day trading on Monday, hitting $125.00. The company had a trading volume of 1,908,912 shares, compared to its average volume of 1,500,856. The stock has a market cap of $44.50 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.87 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 1 year low of $91.07 and a 1 year high of $129.13. The business has a fifty day moving average of $121.48 and a 200 day moving average of $118.82.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS 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 analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period last year, the business earned $3.44 EPS. On average, sell-side analysts expect that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.16%. Prudential Financial's dividend payout ratio is presently 46.22%.

Prudential Financial 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.