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

Amundi increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 32.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,535,514 shares of the financial services provider’s stock after buying an additional 378,266 shares during the quarter. Amundi’s holdings in Prudential Financial were worth $181,851,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PRU. Grove Bank & Trust grew its position in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Prudential Financial during the 4th quarter worth $29,000. Ashton Thomas Securities LLC purchased a new position in Prudential Financial during the 3rd quarter worth $31,000. CGC Financial Services LLC increased its stake in Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

PRU has been the topic of several recent research reports. Piper Sandler dropped their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Jefferies Financial Group lifted 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. Finally, Barclays upped their price objective 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, February 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Stock Up 1.1 %

PRU stock opened at $111.35 on Monday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $115.53 and its 200 day moving average price is $119.78. Prudential Financial, Inc. has a 52 week low of $104.44 and a 52 week high of $130.55. The company has a market cap of $39.86 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, research 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 declared 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. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.85%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

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.