Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,239 shares of the financial services provider’s stock after purchasing an additional 599 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Prudential Financial were worth $383,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp raised its position in Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after buying an additional 49,830 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after acquiring an additional 341,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Prudential Financial by 1.6% in the third 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 purchasing an additional 47,561 shares during the period. Bank of New York Mellon Corp boosted its holdings in Prudential Financial by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock valued at $290,906,000 after purchasing an additional 6,938 shares in the last quarter. Finally, FMR LLC increased its position 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 worth $174,903,000 after purchasing an additional 344,254 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Jefferies Financial Group raised their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have issued 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, the stock has an average rating of “Hold” and an average price target of $126.15.

Prudential Financial Price Performance

PRU stock opened at $109.51 on Wednesday. The stock’s 50 day moving average price is $116.05 and its 200 day moving average price is $119.86. The firm has a market cap of $39.21 billion, a P/E ratio of 14.66, a PEG ratio of 0.98 and a beta of 1.31. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year 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 expect that Prudential Financial, Inc. will post 14.36 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 given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend is Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 72.29%.

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.