Commerzbank Aktiengesellschaft FI Raises Stock Position in Prudential Financial, Inc. $PRU

Commerzbank Aktiengesellschaft FI increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 21.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,632 shares of the financial services provider’s stock after buying an additional 5,493 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Prudential Financial were worth $3,282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRU. Darwin Wealth Management LLC bought a new stake in Prudential Financial during the second quarter valued at approximately $36,000. AlphaCore Capital LLC purchased a new stake in shares of Prudential Financial during the 2nd quarter valued at $39,000. Capital A Wealth Management LLC lifted its holdings in shares of Prudential Financial by 4,600.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 368 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Prudential Financial in the second quarter worth $51,000. Finally, Crews Bank & Trust increased its stake in Prudential Financial by 36.4% in the second quarter. Crews Bank & Trust now owns 547 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 146 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Morgan Stanley upped their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Evercore ISI lifted their target price on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Piper Sandler upped their price target on shares of Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Finally, Barclays decreased their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $120.78.

Insider Activity

In other news, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the transaction, the chairman owned 165,564 shares of the company’s stock, valued at $17,779,917.96. The trade was a 22.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy L. Schmidt sold 8,000 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total transaction of $861,520.00. Following the sale, the senior vice president directly owned 11,535 shares in the company, valued at $1,242,204.15. This trade represents a 40.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 62,719 shares of company stock worth $6,796,067 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Performance

Shares of PRU stock opened at $107.60 on Monday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The company’s fifty day moving average price is $112.29 and its 200-day moving average price is $107.24. The stock has a market cap of $37.66 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.92 and a beta of 0.97. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $123.88.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.72 by $0.54. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. The business had revenue of $17.89 billion for the quarter, compared to analysts’ expectations of $13.77 billion. During the same quarter in the prior year, the company earned $3.48 earnings per share. On average, equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, November 18th. Prudential Financial’s payout ratio is 74.18%.

Prudential Financial Company Profile

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.