Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Allworth Financial LP

Allworth Financial LP increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 96.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,919 shares of the financial services provider’s stock after buying an additional 5,370 shares during the quarter. Allworth Financial LP’s holdings in Prudential Financial were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of Prudential Financial by 4,130.8% in 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 buying an additional 1,267,571 shares during the period. Nordea Investment Management AB boosted its position in Prudential Financial by 176.8% in the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after buying an additional 665,180 shares during the last quarter. FMR LLC grew its stake in Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after purchasing an additional 344,254 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 valued at $1,047,872,000 after buying an additional 341,787 shares during the last quarter. Finally, Capital Advisors Inc. OK bought a new stake in shares of Prudential Financial in the third quarter worth $30,226,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PRU shares. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays raised their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Finally, Piper Sandler reduced their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $125.46.

Prudential Financial Stock Performance

Shares of PRU opened at $111.71 on Wednesday. The firm has a market capitalization of $39.77 billion, a PE ratio of 14.95, a P/E/G ratio of 1.00 and a beta of 1.31. The company has a quick ratio of 0.14, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $117.65 and a 200 day moving average price of $119.70. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last posted 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 net margin of 4.01% and a return on equity of 15.86%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a $1.35 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.83%. Prudential Financial’s dividend payout ratio is 69.61%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This represents 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. Company insiders own 0.31% of the company’s stock.

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.