Stifel Financial Corp Boosts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Stifel Financial Corp raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 951,345 shares of the financial services provider's stock after buying an additional 6,907 shares during the quarter. Stifel Financial Corp owned about 0.27% of Prudential Financial worth $115,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its holdings in Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider's stock valued at $2,176,000 after buying an additional 1,234 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Prudential Financial by 4.3% in the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider's stock valued at $19,701,000 after purchasing an additional 6,641 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Prudential Financial in the second quarter valued at $156,000. PGGM Investments grew its holdings in shares of Prudential Financial by 98.0% in the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider's stock valued at $7,533,000 after purchasing an additional 31,807 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Prudential Financial by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider's stock valued at $370,327,000 after purchasing an additional 47,561 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Down 0.6 %

Shares of NYSE:PRU traded down $0.73 on Friday, hitting $126.56. 1,391,124 shares of the company's stock were exchanged, compared to its average volume of 1,494,196. Prudential Financial, Inc. has a 12 month low of $98.24 and a 12 month high of $130.55. The stock has a market capitalization of $45.06 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. The business's 50 day simple moving average is $124.80 and its two-hundred day simple moving average is $120.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period last year, the company earned $3.44 earnings per share. Analysts anticipate that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.11%. Prudential Financial's payout ratio is currently 46.22%.

Analyst Ratings Changes

A number of research firms recently weighed in on PRU. UBS Group raised their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Evercore ISI raised shares of Prudential Financial from an "underperform" rating to an "inline" rating and raised their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Morgan Stanley dropped their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research note on Monday, August 19th. Finally, 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 note on Friday, November 1st. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $125.92.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares of the company's stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

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.