Truist Financial Corp Acquires 7,105 Shares of Prudential Financial, Inc. (NYSE:PRU)

Truist Financial Corp increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 693,761 shares of the financial services provider's stock after buying an additional 7,105 shares during the period. Truist Financial Corp owned about 0.19% of Prudential Financial worth $82,231,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock worth $2,059,549,000 after purchasing an additional 49,830 shares during the period. Geode Capital Management LLC lifted its holdings in Prudential Financial by 4.1% during 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 buying an additional 341,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 valued at $370,327,000 after buying an additional 47,561 shares during the last quarter. FMR LLC raised its position in shares of Prudential Financial by 31.3% during the third 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 lifted its stake in shares of Prudential Financial by 4.0% in the third 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 period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Down 1.5 %

Shares of NYSE:PRU traded down $1.68 during trading on Friday, reaching $109.45. 1,575,421 shares of the stock were exchanged, compared to its average volume of 1,697,518. Prudential Financial, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55. The stock has a fifty day moving average of $116.88 and a two-hundred day moving average of $119.62. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $39.18 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Research analysts anticipate that Prudential Financial, Inc. will post 14.34 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial's payout ratio is currently 72.29%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their target price 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. Piper Sandler decreased their price objective 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. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a report on Wednesday. BMO Capital Markets assumed coverage on Prudential Financial in a report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price target for the company. Finally, Jefferies Financial Group boosted their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, ten have given 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.com, Prudential Financial currently has a consensus rating of "Hold" and an average price target of $125.69.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction dated 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 purchase, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company's stock.

About Prudential Financial

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.