Northwest & Ethical Investments L.P. Grows Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Northwest & Ethical Investments L.P. raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,432 shares of the financial services provider’s stock after purchasing an additional 977 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Prudential Financial were worth $5,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings in Prudential Financial by 4,130.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after acquiring an additional 1,267,571 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Prudential Financial by 97.4% during the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after purchasing an additional 357,300 shares in the last quarter. FMR LLC increased its holdings in Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after buying an additional 344,254 shares during the last quarter. Swedbank AB acquired a new stake in Prudential Financial in the first quarter valued at $35,855,000. Finally, Legal & General Group Plc lifted its holdings in Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after buying an additional 305,143 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of PRU stock opened at $129.52 on Friday. Prudential Financial, Inc. has a 52-week low of $95.10 and a 52-week high of $130.55. The stock’s 50-day moving average price is $124.08 and its 200 day moving average price is $120.03. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $46.11 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.93 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the business earned $3.44 earnings per share. As a group, equities research analysts forecast that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Analysts Set New Price Targets

A number of research firms have recently commented on PRU. Piper Sandler increased their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Bank of America upped their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, UBS Group upped their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Eleven equities research 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, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $125.92.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial Company 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.