KBC Group NV Raises Holdings in Prudential Financial, Inc. (NYSE:PRU)

KBC Group NV boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 80.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 309,540 shares of the financial services provider's stock after purchasing an additional 137,546 shares during the quarter. KBC Group NV owned about 0.09% of Prudential Financial worth $36,689,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its stake in Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock valued at $2,059,549,000 after purchasing an additional 49,830 shares during the period. Geode Capital Management LLC increased its stake in Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after acquiring an additional 341,787 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Prudential Financial by 1.6% in the 3rd 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 worth $370,327,000 after acquiring an additional 47,561 shares during the last quarter. FMR LLC increased its stake in Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock worth $174,903,000 after acquiring an additional 344,254 shares during the last quarter. Finally, abrdn plc increased its stake in Prudential Financial by 4.0% in the 3rd quarter. abrdn plc now owns 1,309,155 shares of the financial services provider's stock worth $158,120,000 after acquiring an additional 50,026 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Insider Buying and Selling

In related 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 purchase, the insider now directly owns 4,780,293 shares of the company's stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research reports. TD Cowen lifted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a research note on Wednesday, November 27th. Piper Sandler cut their target price on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. BMO Capital Markets started coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 target price on the stock. Barclays boosted their target price on Prudential Financial from $127.00 to $128.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. Finally, Evercore ISI raised Prudential Financial from an "underperform" rating to an "inline" rating and boosted their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential Financial presently has an average rating of "Hold" and a consensus target price of $125.31.

Prudential Financial Stock Up 0.5 %

Shares of PRU stock traded up $0.60 during mid-day trading on Tuesday, hitting $121.12. The stock had a trading volume of 1,943,207 shares, compared to its average volume of 1,624,559. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55. The firm has a market capitalization of $43.12 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. The firm's 50-day moving average is $121.14 and its two-hundred day moving average is $120.67. 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 issued 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. The business had revenue of $19.48 billion during the quarter, compared to analysts' expectations 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 in the prior year, the business earned $3.44 EPS. On average, analysts predict that Prudential Financial, Inc. will post 13.24 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial's dividend payout ratio (DPR) is currently 46.22%.

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.