Prudential Financial, Inc. (NYSE:PRU) Shares Bought by State Street Corp

State Street Corp raised its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,007,013 shares of the financial services provider's stock after purchasing an additional 49,830 shares during the quarter. State Street Corp owned 4.78% of Prudential Financial worth $2,059,549,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mather Group LLC. grew its holdings in shares of Prudential Financial by 67.1% during the 2nd quarter. Mather Group LLC. now owns 1,133 shares of the financial services provider's stock worth $133,000 after acquiring an additional 455 shares during the period. Park Avenue Securities LLC grew its position in shares of Prudential Financial by 1.4% in the 2nd quarter. Park Avenue Securities LLC now owns 7,424 shares of the financial services provider's stock worth $870,000 after buying an additional 103 shares during the period. CWM LLC lifted its position in Prudential Financial by 13.3% during the 2nd quarter. CWM LLC now owns 13,036 shares of the financial services provider's stock valued at $1,528,000 after acquiring an additional 1,527 shares during the period. OLD National Bancorp IN boosted its stake in Prudential Financial by 1.7% during the second quarter. OLD National Bancorp IN now owns 5,941 shares of the financial services provider's stock worth $696,000 after acquiring an additional 98 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its holdings in Prudential Financial by 36.8% in the second quarter. Capital Investment Advisors LLC now owns 3,393 shares of the financial services provider's stock worth $398,000 after purchasing an additional 913 shares during the period. Institutional investors own 56.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PRU shares. Piper Sandler lifted their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. Morgan Stanley cut their price objective on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. Finally, Evercore ISI raised Prudential Financial from an "underperform" rating to an "inline" rating and increased their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $125.92.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business's stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 6.61 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by insiders.

Prudential Financial Stock Down 0.7 %

Prudential Financial stock traded down $0.93 during midday trading on Friday, hitting $126.36. 291,330 shares of the company's stock were exchanged, compared to its average volume of 1,489,459. Prudential Financial, Inc. has a 12 month low of $98.24 and a 12 month high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market cap of $44.98 billion, a PE ratio of 11.32, a P/E/G ratio of 0.91 and a beta of 1.29. The firm has a 50-day moving average of $124.80 and a two-hundred day moving average of $120.31.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the firm posted $3.44 earnings per share. As a group, analysts expect that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Tuesday, November 19th. Prudential Financial's dividend 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.