Mirae Asset Global Investments Co. Ltd. Has $10.72 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 103,362 shares of the financial services provider’s stock after selling 2,146 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Prudential Financial were worth $10,720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. First Financial Corp IN raised its stake in Prudential Financial by 13.7% during the 4th quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock worth $88,000 after buying an additional 102 shares during the period. Hilltop Holdings Inc. raised its stake in Prudential Financial by 1.5% during the 2nd quarter. Hilltop Holdings Inc. now owns 7,917 shares of the financial services provider’s stock worth $698,000 after buying an additional 116 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Prudential Financial by 5.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,451 shares of the financial services provider’s stock worth $244,000 after buying an additional 119 shares during the period. Patron Partners LLC raised its stake in Prudential Financial by 2.4% during the 3rd quarter. Patron Partners LLC now owns 5,086 shares of the financial services provider’s stock worth $483,000 after buying an additional 119 shares during the period. Finally, McIlrath & Eck LLC raised its stake in Prudential Financial by 30.6% during the 4th quarter. McIlrath & Eck LLC now owns 512 shares of the financial services provider’s stock worth $51,000 after buying an additional 120 shares during the period. Institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PRU. Wells Fargo & Company upped their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Morgan Stanley increased their price objective on Prudential Financial from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. UBS Group increased their price objective on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.67.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the sale, the executive vice president now owns 13,691 shares in the company, valued at $1,527,504.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the sale, the executive vice president now owns 24,381 shares in the company, valued at approximately $2,642,656.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,255 shares of company stock valued at $3,215,664. Company insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

PRU stock opened at $111.29 on Friday. The firm has a market cap of $39.95 billion, a PE ratio of 16.64, a P/E/G ratio of 0.83 and a beta of 1.37. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average of $110.91 and a 200-day moving average of $102.48. Prudential Financial, Inc. has a 12-month low of $77.22 and a 12-month high of $118.69.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm had revenue of $13.02 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same period last year, the company posted $2.42 earnings per share. Prudential Financial’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 13.39 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.67%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s dividend payout ratio is 77.73%.

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.