Sumitomo Mitsui Trust Group Inc. Has $96.59 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 797,604 shares of the financial services provider’s stock after purchasing an additional 3,000 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Prudential Financial were worth $96,590,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PRU. International Assets Investment Management LLC lifted its holdings in Prudential Financial by 4,130.8% during 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 in the last quarter. AQR Capital Management LLC raised its position in shares of Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after acquiring an additional 357,300 shares during the last quarter. Swedbank AB bought a new stake in shares of Prudential Financial during the 1st quarter valued at $35,855,000. Legal & General Group Plc raised its position in shares of Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after acquiring an additional 305,143 shares during the last quarter. Finally, Capital Advisors Inc. OK bought a new stake in shares of Prudential Financial during the 3rd quarter valued at $30,226,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler upped their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. TD Cowen assumed coverage on shares of Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 target price for the company. Wells Fargo & Company upped their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Barclays upped their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average price target of $123.85.

Prudential Financial Price Performance

PRU stock opened at $125.27 on Thursday. The stock has a 50-day moving average price of $121.65 and a two-hundred day moving average price of $119.02. The stock has a market cap of $44.60 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 1 year low of $92.57 and a 1 year high of $129.13.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the company earned $3.44 EPS. Equities analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.15%. Prudential Financial’s dividend payout ratio is 46.22%.

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.