Prudential Financial, Inc. (NYSE:PRU) Shares Bought by TD Asset Management Inc

TD Asset Management Inc lifted its position in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,336 shares of the financial services provider’s stock after purchasing an additional 6,149 shares during the period. TD Asset Management Inc’s holdings in Prudential Financial were worth $12,791,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Prudential Financial by 9,281.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after acquiring an additional 1,354,248 shares in the last quarter. Norges Bank acquired a new position in shares of Prudential Financial in the 4th quarter valued at $113,478,000. Dimensional Fund Advisors LP grew its position in shares of Prudential Financial by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after buying an additional 388,363 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Prudential Financial during the 3rd quarter worth $34,251,000. Finally, abrdn plc boosted its stake in Prudential Financial by 37.5% in the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock valued at $114,829,000 after acquiring an additional 302,164 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PRU shares. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods increased their price objective on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Evercore ISI upped their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Finally, Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $121.00 to $143.00 in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $115.25.

Read Our Latest Stock Report on PRU

Insiders Place Their Bets

In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the sale, the executive vice president now owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,402 shares of company stock worth $17,607,288. 0.34% of the stock is owned by corporate insiders.

Prudential Financial Stock Down 0.6 %

Prudential Financial stock opened at $119.62 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 1-year low of $82.02 and a 1-year high of $121.39. The company has a market cap of $42.94 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 0.90 and a beta of 1.35. The stock’s 50 day moving average price is $115.18 and its 200 day moving average price is $108.44.

Prudential Financial (NYSE:PRUGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The business had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm’s quarterly revenue was up 69.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.66 earnings per share. On average, sell-side analysts predict that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.35%. Prudential Financial’s payout ratio is 88.44%.

About Prudential Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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