Choreo LLC Acquires 6,409 Shares of Prudential Financial, Inc. (NYSE:PRU)

Choreo LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 25.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 31,954 shares of the financial services provider’s stock after buying an additional 6,409 shares during the period. Choreo LLC’s holdings in Prudential Financial were worth $3,780,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Lion Street Advisors LLC lifted its position in Prudential Financial by 40.7% in the 4th quarter. Lion Street Advisors LLC now owns 6,943 shares of the financial services provider’s stock valued at $823,000 after acquiring an additional 2,010 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Prudential Financial by 27.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,466 shares of the financial services provider’s stock valued at $4,426,000 after purchasing an additional 7,977 shares in the last quarter. Y.D. More Investments Ltd boosted its position in shares of Prudential Financial by 8.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,386 shares of the financial services provider’s stock worth $164,000 after buying an additional 113 shares during the period. Hager Investment Management Services LLC acquired a new stake in Prudential Financial in the 4th quarter valued at approximately $1,396,000. Finally, E. Ohman J or Asset Management AB lifted its stake in Prudential Financial by 9.9% in the 4th quarter. E. Ohman J or Asset Management AB now owns 16,623 shares of the financial services provider’s stock valued at $1,970,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the topic of a number of recent research reports. Piper Sandler lowered their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Barclays boosted 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 report on Wednesday. TD Cowen raised their price objective on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Jefferies Financial Group increased their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prudential Financial has an average rating of “Hold” and an average price target of $125.77.

Prudential Financial Price Performance

NYSE:PRU opened at $113.90 on Thursday. The firm’s fifty day moving average price is $120.38 and its two-hundred day moving average price is $120.46. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $40.55 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.12 and a beta of 1.31. Prudential Financial, Inc. has a one year low of $102.67 and a one year high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results 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 net margin of 6.03% and a return on equity of 15.30%. Equities analysts expect that Prudential Financial, Inc. will post 13.24 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.74%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares in the company, valued at approximately $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 SEC, which is available through this link. Insiders own 0.34% 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.