NEOS Investment Management LLC Raises Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

NEOS Investment Management LLC raised its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 31.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,993 shares of the financial services provider's stock after buying an additional 4,976 shares during the quarter. NEOS Investment Management LLC's holdings in Prudential Financial were worth $2,488,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Glenmede Trust Co. NA raised its stake in Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider's stock valued at $2,176,000 after purchasing an additional 1,234 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of Prudential Financial during the 4th quarter valued at about $3,423,000. Gateway Investment Advisers LLC grew its position in Prudential Financial by 56.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock worth $2,607,000 after acquiring an additional 7,907 shares in the last quarter. Principal Financial Group Inc. increased its stake in Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock worth $50,830,000 after acquiring an additional 15,695 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Prudential Financial by 2.3% during the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider's stock valued at $9,597,000 after purchasing an additional 1,765 shares during the period. Institutional investors own 56.83% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have recently weighed in on PRU. Morgan Stanley cut their target price on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Wells Fargo & Company raised their target price 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. Keefe, Bruyette & Woods reduced their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. Finally, Piper Sandler dropped their target price on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $126.15.

Prudential Financial Stock Up 1.5 %

Shares of PRU stock traded up $1.70 during mid-day trading on Monday, hitting $111.77. The stock had a trading volume of 1,892,917 shares, compared to its average volume of 1,539,831. The firm has a market capitalization of $40.01 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55. The firm's 50-day moving average is $113.09 and its two-hundred day moving average is $118.98.

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

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors 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 dividend on an annualized basis and a yield of 4.83%. Prudential Financial's payout ratio is 72.29%.

Insider Buying and Selling at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. The trade was a 18.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the company's stock in a transaction dated 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 purchase, the insider now directly owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.31% of the company's stock.

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.