AustralianSuper Pty Ltd Increases Stake in Prudential Financial, Inc. (NYSE:PRU)

AustralianSuper Pty Ltd increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,265,996 shares of the financial services provider’s stock after purchasing an additional 28,459 shares during the period. AustralianSuper Pty Ltd owned approximately 0.35% of Prudential Financial worth $153,312,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC boosted its holdings in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after buying an additional 108 shares in the last quarter. Lynx Investment Advisory purchased a new stake in Prudential Financial during the 2nd quarter worth $29,000. Crewe Advisors LLC purchased a new stake in shares of Prudential Financial during the first quarter valued at approximately $33,000. ESL Trust Services LLC purchased a new position in Prudential Financial in the first quarter valued at about $34,000. Finally, Bank & Trust Co acquired a new stake in shares of Prudential Financial in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial 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 sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction 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 $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

PRU has been the topic of a number of research analyst reports. Piper Sandler raised their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. UBS Group lifted their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Wells Fargo & Company boosted their price target on Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Bank of America increased their price objective on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $123.69.

Prudential Financial Stock Performance

PRU traded down $2.56 on Thursday, reaching $124.08. The company had a trading volume of 366,741 shares, compared to its average volume of 1,472,360. The company’s fifty day moving average is $120.88 and its 200 day moving average is $118.13. 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 has a market cap of $44.30 billion, a P/E ratio of 16.28, a P/E/G ratio of 0.94 and a beta of 1.30. Prudential Financial, Inc. has a fifty-two week low of $89.90 and a fifty-two week high of $128.52.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter last year, the company earned $3.44 EPS. As a group, analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s payout ratio is 66.84%.

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.