Invesco Ltd. Purchases 3,539 Shares of Prudential Financial, Inc. (NYSE:PRU)

Invesco Ltd. increased its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,323,924 shares of the financial services provider's stock after purchasing an additional 3,539 shares during the period. Invesco Ltd. owned approximately 1.21% of Prudential Financial worth $512,515,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Grove Bank & Trust increased its position in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new stake in Prudential Financial during the fourth quarter valued at approximately $29,000. CGC Financial Services LLC grew its position in Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 124 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial during the 4th quarter worth about $33,000. Finally, Quarry LP increased its holdings in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider's stock worth $34,000 after buying an additional 222 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Up 2.9 %

NYSE:PRU traded up $2.82 on Monday, hitting $101.65. The stock had a trading volume of 315,416 shares, compared to its average volume of 1,591,887. The company has a market cap of $36.03 billion, a PE ratio of 13.61, a P/E/G ratio of 0.98 and a beta of 1.11. The business's fifty day moving average is $108.98 and its 200 day moving average is $117.56. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55.

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Prudential Financial (NYSE:PRU - Get Free Report) last announced its 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%. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 5.31%. Prudential Financial's dividend payout ratio (DPR) is presently 72.29%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler reduced their target price on shares of Prudential Financial from $124.00 to $122.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. UBS Group decreased their target price on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley cut their price target on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Finally, Barclays cut their price target on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $122.77.

Insider Buying and Selling at Prudential Financial

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

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.