Federated Hermes Inc. Purchases 82,620 Shares of Prudential Financial, Inc. (NYSE:PRU)

Federated Hermes Inc. boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,025,527 shares of the financial services provider’s stock after purchasing an additional 82,620 shares during the quarter. Federated Hermes Inc. owned about 0.29% of Prudential Financial worth $120,181,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Prudential Financial by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after buying an additional 5,154,865 shares during the period. AustralianSuper Pty Ltd lifted its stake in shares of Prudential Financial by 2.8% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock valued at $145,027,000 after purchasing an additional 34,160 shares during the period. Norges Bank acquired a new stake in shares of Prudential Financial during the fourth quarter worth $113,478,000. Stifel Financial Corp increased its holdings in Prudential Financial by 0.4% in the fourth quarter. Stifel Financial Corp now owns 1,003,558 shares of the financial services provider’s stock valued at $104,080,000 after purchasing an additional 4,006 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Prudential Financial by 7.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock worth $108,788,000 after buying an additional 62,578 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 1.0 %

NYSE PRU opened at $115.84 on Friday. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The stock’s 50 day moving average price is $117.89 and its two-hundred day moving average price is $115.82. The stock has a market capitalization of $41.35 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 0.89 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, analysts anticipate that Prudential Financial, Inc. will post 13.31 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s payout ratio is 88.44%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PRU shares. Jefferies Financial Group cut their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. UBS Group lifted their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Morgan Stanley lowered their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Citigroup lifted their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. One equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $120.83.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred 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 directly owns 10,175 shares in the company, valued at $1,220,694.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The shares were 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 approximately $1,220,694.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was purchased at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the acquisition, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

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.