Van Lanschot Kempen Investment Management N.V. Has $28.66 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Van Lanschot Kempen Investment Management N.V. grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 241,804 shares of the financial services provider's stock after buying an additional 5,844 shares during the period. Van Lanschot Kempen Investment Management N.V. owned 0.07% of Prudential Financial worth $28,661,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Avanza Fonder AB bought a new position in shares of Prudential Financial in the fourth quarter valued at approximately $3,423,000. Gateway Investment Advisers LLC boosted its stake in Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock valued at $2,607,000 after purchasing an additional 7,907 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock valued at $50,830,000 after purchasing an additional 15,695 shares during the period. Asset Allocation & Management Company LLC acquired a new stake in shares of Prudential Financial in the fourth quarter valued at $209,000. Finally, Czech National Bank boosted its stake in Prudential Financial by 6.1% during the fourth quarter. Czech National Bank now owns 77,188 shares of the financial services provider's stock valued at $9,149,000 after buying an additional 4,464 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now owns 87,047 shares of the company's stock, valued at $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Prudential Financial Stock Down 1.1 %

Shares of PRU stock traded down $1.18 during trading on Friday, hitting $102.85. 1,276,661 shares of the company were exchanged, compared to its average volume of 1,891,319. The firm has a market capitalization of $36.45 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The business's 50-day simple moving average is $106.82 and its 200 day simple moving average is $116.34. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last posted 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 return on equity of 15.86% and a net margin of 4.01%. As a group, analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 5.25%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial's payout ratio is currently 72.29%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PRU. Morgan Stanley cut their price target on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Piper Sandler reduced their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Barclays decreased their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. One investment 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 company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $121.85.

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.