QRG Capital Management Inc. Purchases 35,076 Shares of Prudential Financial, Inc. (NYSE:PRU)

QRG Capital Management Inc. increased its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 238.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,779 shares of the financial services provider's stock after buying an additional 35,076 shares during the quarter. QRG Capital Management Inc.'s holdings in Prudential Financial were worth $6,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. International Assets Investment Management LLC increased its stake in Prudential Financial by 4,130.8% in the third 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 period. AQR Capital Management LLC raised its holdings in shares of Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider's stock worth $84,874,000 after buying an additional 357,300 shares in the last quarter. Swedbank AB bought a new position in shares of Prudential Financial during the 1st quarter worth approximately $35,855,000. Legal & General Group Plc grew its position in Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock valued at $415,134,000 after acquiring an additional 305,143 shares during the period. Finally, Capital Advisors Inc. OK bought a new position in shares of Prudential Financial during the third quarter valued at $30,226,000. 56.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PRU shares. Piper Sandler increased their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Morgan Stanley decreased their price target on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Barclays increased their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Finally, Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven 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, the company presently has a consensus rating of "Hold" and a consensus target price of $123.85.

Insider Activity at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares of the company's stock, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Prudential Financial Price Performance

Prudential Financial stock traded up $8.33 during mid-day trading on Wednesday, reaching $128.51. 2,044,611 shares of the company were exchanged, compared to its average volume of 1,487,242. The firm has a market cap of $45.75 billion, a PE ratio of 11.35, a PEG ratio of 0.86 and a beta of 1.29. The company has a fifty day simple moving average of $121.20 and a 200-day simple moving average of $118.55. Prudential Financial, Inc. has a 12 month low of $89.90 and a 12 month high of $129.13. 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 (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the firm earned $3.44 EPS. As a group, equities research analysts expect that Prudential Financial, Inc. will post 13.32 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.05%. Prudential Financial's payout ratio 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.