Prudential Financial, Inc. $PRU Shares Purchased by AIA Group Ltd

AIA Group Ltd increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 75.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,061 shares of the financial services provider’s stock after buying an additional 11,656 shares during the quarter. AIA Group Ltd’s holdings in Prudential Financial were worth $2,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRU. Brighton Jones LLC raised its stake in Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 133 shares during the last quarter. Empowered Funds LLC lifted its stake in Prudential Financial by 30.5% during the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after acquiring an additional 4,134 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of Prudential Financial by 17.0% in the 2nd quarter. Avantax Advisory Services Inc. now owns 26,209 shares of the financial services provider’s stock valued at $2,816,000 after acquiring an additional 3,805 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Prudential Financial by 30.3% in the second quarter. Citizens Financial Group Inc. RI now owns 3,067 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 714 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Prudential Financial by 4.5% during the second quarter. Nomura Asset Management Co. Ltd. now owns 121,216 shares of the financial services provider’s stock worth $13,023,000 after purchasing an additional 5,183 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 equities research analysts have commented on PRU shares. Morgan Stanley lowered their price target on shares of Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. Piper Sandler lifted their price objective on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. Mizuho lowered their target price on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. JPMorgan Chase & Co. dropped their target price on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. Finally, Evercore reiterated a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Nine investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Prudential Financial presently has an average rating of “Reduce” and an average price target of $115.22.

Prudential Financial Price Performance

Prudential Financial stock opened at $92.50 on Friday. The stock has a market capitalization of $32.19 billion, a P/E ratio of 9.25, a P/E/G ratio of 1.14 and a beta of 0.98. The company’s fifty day moving average price is $103.81 and its 200 day moving average price is $106.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $119.76.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). The company had revenue of $14.52 billion during the quarter, compared to analyst estimates of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same quarter last year, the business earned $2.96 EPS. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th were paid 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 6.1%. The ex-dividend date of this dividend was Tuesday, February 17th. Prudential Financial’s dividend payout ratio is presently 56.00%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, Director Thomas D. Stoddard purchased 250 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost of $102.97 per share, with a total value of $25,742.50. Following the completion of the purchase, the director owned 250 shares in the company, valued at approximately $25,742.50. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph J. Wolk purchased 400 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were acquired at an average price of $105.32 per share, for a total transaction of $42,128.00. Following the completion of the transaction, the director directly owned 400 shares of the company’s stock, valued at $42,128. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 1,408,389 shares of company stock valued at $35,154,439 over the last ninety days. Company insiders own 0.25% of the company’s stock.

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.