Sumitomo Mitsui Trust Group Inc. Purchases 8,449 Shares of Prudential Financial, Inc. (NYSE:PRU)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 806,053 shares of the financial services provider's stock after acquiring an additional 8,449 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Prudential Financial worth $95,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust grew its position in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial during the third quarter valued at approximately $31,000. CGC Financial Services LLC lifted its stake in Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 124 shares during the last quarter. Quarry LP lifted its stake in Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Price Performance

Shares of NYSE:PRU traded down $0.82 during midday trading on Wednesday, reaching $110.82. 2,105,768 shares of the company's stock were exchanged, compared to its average volume of 1,758,545. The company's 50 day simple moving average is $118.78 and its two-hundred day simple moving average is $120.07. The firm has a market capitalization of $39.45 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. Prudential Financial, Inc. has a 12 month low of $104.02 and a 12 month high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.14 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Equities research analysts expect that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.87%. The ex-dividend date is Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is currently 69.61%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Piper Sandler reduced their price target on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group increased their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Barclays increased their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Evercore ISI upgraded shares of Prudential Financial from an "underperform" rating to an "inline" rating and raised their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $125.46.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares of the company's stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.

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.