YANKCOM Partnership Buys New Shares in Prudential Financial, Inc. (NYSE:PRU)

YANKCOM Partnership purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,793 shares of the financial services provider’s stock, valued at approximately $805,000.

Several other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC raised its position 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 during the last quarter. Nordea Investment Management AB raised its holdings in shares of Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock worth $123,804,000 after purchasing an additional 665,180 shares during the last quarter. FMR LLC boosted its holdings in Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after purchasing an additional 344,254 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after buying an additional 341,787 shares during the last quarter. Finally, Capital Advisors Inc. OK acquired a new position in shares of Prudential Financial in the 3rd quarter valued at about $30,226,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PRU shares. Barclays raised 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 note on Wednesday. Piper Sandler reduced their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research note on Thursday, January 16th. 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 objective for the company. Finally, TD Cowen lifted their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $125.77.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

Prudential Financial Stock Performance

Shares of PRU stock opened at $113.90 on Thursday. Prudential Financial, Inc. has a 52 week low of $102.67 and a 52 week high of $130.55. The firm has a 50 day moving average of $120.38 and a two-hundred day moving average of $120.46. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $40.55 billion, a PE ratio of 10.12, a P/E/G ratio of 1.12 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last released its 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 15.30% and a net margin of 6.03%. On average, research analysts predict that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a $1.35 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.74%. Prudential Financial’s dividend payout ratio (DPR) 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.