Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Algebris UK Ltd

Algebris UK Ltd increased its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 79.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,412 shares of the financial services provider's stock after acquiring an additional 96,725 shares during the period. Prudential Financial makes up approximately 6.3% of Algebris UK Ltd's investment portfolio, making the stock its 4th biggest position. Algebris UK Ltd owned approximately 0.06% of Prudential Financial worth $24,951,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB lifted 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 valued at $123,804,000 after purchasing an additional 665,180 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $76,303,000. Amundi lifted its position in shares of Prudential Financial by 32.7% in the 4th quarter. Amundi now owns 1,535,514 shares of the financial services provider's stock valued at $181,851,000 after acquiring an additional 378,266 shares in the last quarter. FMR LLC lifted 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 acquiring an additional 344,254 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of 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 valued at $1,047,872,000 after acquiring an additional 341,787 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

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Insider Transactions at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the acquisition, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on PRU. Barclays upped their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a research report on Wednesday, February 12th. TD Cowen upped their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets began coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. One 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $126.15.

Prudential Financial Stock Performance

Prudential Financial stock traded down $0.43 during mid-day trading on Friday, reaching $110.35. The company had a trading volume of 3,274,047 shares, compared to its average volume of 1,432,523. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52 week low of $104.45 and a 52 week high of $130.55. The company has a 50 day moving average of $113.57 and a 200-day moving average of $119.03. The firm has a market cap of $39.51 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.98 and a beta of 1.28.

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

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.89%. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is presently 72.29%.

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.