Point72 Asset Management L.P. Has $13.59 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Point72 Asset Management L.P. lifted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 309.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 112,237 shares of the financial services provider's stock after buying an additional 84,837 shares during the period. Point72 Asset Management L.P.'s holdings in Prudential Financial were worth $13,592,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider's stock valued at $157,219,000 after acquiring an additional 1,267,571 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Prudential Financial by 97.4% during the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider's stock valued at $84,874,000 after purchasing an additional 357,300 shares during the last quarter. FMR LLC boosted its position in shares of Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock valued at $174,903,000 after purchasing an additional 344,254 shares during the period. Legal & General Group Plc increased its stake in 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 purchasing an additional 305,143 shares in the last quarter. Finally, Capital Advisors Inc. OK purchased a new position in shares of Prudential Financial in the third quarter worth approximately $30,226,000. Institutional investors own 56.83% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company's stock in a transaction dated Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 6.61 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays lifted their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a research report on Friday, November 1st. Piper Sandler upped their price target on Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Morgan Stanley decreased their price objective on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. Bank of America upped 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. Finally, UBS Group boosted their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a "neutral" rating in a research report on Tuesday, August 13th. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $125.92.

Prudential Financial Stock Down 0.6 %

Prudential Financial stock traded down $0.73 during mid-day trading on Friday, hitting $126.56. 1,391,124 shares of the company's stock were exchanged, compared to its average volume of 1,412,572. Prudential Financial, Inc. has a 1-year low of $98.24 and a 1-year high of $130.55. The stock has a 50 day moving average of $124.80 and a two-hundred day moving average of $120.31. The stock has a market cap of $45.06 billion, a P/E ratio of 11.25, a P/E/G ratio of 0.90 and a beta of 1.29. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating 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 period last year, the business earned $3.44 EPS. As a group, analysts anticipate that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid 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 4.11%. Prudential Financial's payout ratio is presently 46.22%.

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.