Stifel Financial Corp Has $113.53 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Stifel Financial Corp increased its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 957,821 shares of the financial services provider's stock after buying an additional 6,476 shares during the quarter. Stifel Financial Corp owned about 0.27% of Prudential Financial worth $113,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Prudential Financial in the 4th quarter valued at about $115,878,000. Nordea Investment Management AB grew its stake in Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider's stock worth $123,804,000 after buying an additional 665,180 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Prudential Financial in the 4th quarter valued at $76,303,000. Marshall Wace LLP lifted its holdings in shares of Prudential Financial by 322.9% during the 4th quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider's stock valued at $84,287,000 after acquiring an additional 542,964 shares in the last quarter. Finally, Amundi boosted its position in Prudential Financial by 32.7% during the 4th quarter. Amundi now owns 1,535,514 shares of the financial services provider's stock worth $181,851,000 after purchasing an additional 378,266 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Performance

NYSE PRU traded down $1.18 during trading hours on Friday, reaching $102.85. The company's stock had a trading volume of 1,276,662 shares, compared to its average volume of 1,604,727. The stock has a market cap of $36.45 billion, a PE ratio of 13.77, a PEG ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $106.82 and a 200 day simple moving average of $116.34.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly 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 net margin of 4.01% and a return on equity of 15.86%. Equities research 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 declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's payout ratio is 72.29%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was purchased at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now directly owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. This trade represents a 60.18 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction dated 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 directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PRU shares. BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 target price for the company. UBS Group decreased their target price on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Piper Sandler cut their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of "Hold" and an average price target of $121.85.

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.