Aberdeen Group plc Has $41.51 Million Stock Holdings in Prudential Financial, Inc. $PRU

Aberdeen Group plc raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 403,726 shares of the financial services provider’s stock after purchasing an additional 45,774 shares during the period. Aberdeen Group plc owned 0.12% of Prudential Financial worth $41,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 133 shares during the period. Empowered Funds LLC raised its position in Prudential Financial by 30.5% in the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after buying an additional 4,134 shares during the last quarter. Private Trust Co. NA lifted its stake in Prudential Financial by 4.8% in the 2nd quarter. Private Trust Co. NA now owns 5,415 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 247 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in Prudential Financial by 4.4% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 8,505 shares of the financial services provider’s stock worth $914,000 after acquiring an additional 359 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Prudential Financial during the 2nd quarter worth approximately $28,579,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Piper Sandler upped their price objective on Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. Wells Fargo & Company upped their price target on shares of Prudential Financial from $113.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Keefe, Bruyette & Woods upped their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. reduced their price target on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $117.11.

Prudential Financial Stock Up 0.4%

Shares of NYSE:PRU opened at $104.58 on Tuesday. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $119.76. The company has a market capitalization of $36.39 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The company has a fifty day moving average of $111.74 and a 200-day moving average of $107.44.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.The business had revenue of $15.69 billion during the quarter, compared to the consensus estimate of $14.48 billion. During the same period in the prior year, the firm earned $2.96 EPS. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th will be issued a $1.40 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Tuesday, February 17th. Prudential Financial’s dividend payout ratio is 54.00%.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Jacques Chappuis acquired 1,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were acquired at an average price of $100.97 per share, with a total value of $100,970.00. Following the completion of the transaction, the executive vice president owned 1,000 shares in the company, valued at approximately $100,970. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Timothy L. Schmidt sold 8,000 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total transaction of $861,520.00. Following the completion of the transaction, the senior vice president directly owned 11,535 shares in the company, valued at approximately $1,242,204.15. The trade was a 40.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have bought 1,408,139 shares of company stock valued at $35,128,697 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.