Prudential Financial, Inc. (NYSE:PRU) Position Raised by Natixis Advisors L.P.

Natixis Advisors L.P. increased its position in Prudential Financial, Inc. (NYSE:PRU) by 17.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,818 shares of the financial services provider’s stock after buying an additional 17,210 shares during the quarter. Natixis Advisors L.P.’s holdings in Prudential Financial were worth $11,907,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of Prudential Financial by 9,281.4% in 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 purchasing an additional 1,354,248 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Prudential Financial in the third quarter worth approximately $34,251,000. abrdn plc increased its holdings in shares of 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 buying an additional 302,164 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Prudential Financial by 39.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,004,087 shares of the financial services provider’s stock valued at $95,278,000 after acquiring an additional 282,667 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Prudential Financial by 80.6% in the 3rd quarter. AQR Capital Management LLC now owns 562,875 shares of the financial services provider’s stock worth $53,411,000 after acquiring an additional 251,269 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $116.23 on Wednesday. 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 one year low of $77.87 and a one year high of $118.69. The business’s 50-day moving average price is $112.48 and its two-hundred day moving average price is $104.78. The company has a market capitalization of $41.73 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The firm had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company’s quarterly revenue was up 69.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.66 EPS. Analysts anticipate that Prudential Financial, Inc. will post 13.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.47%. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Buying and Selling at Prudential Financial

In other news, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now owns 7,901 shares in the company, valued at approximately $883,805.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares in the company, valued at $883,805.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann M. Kappler sold 7,222 shares of the business’s 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 transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The disclosure for this sale can be found here. Insiders have sold a total of 29,255 shares of company stock worth $3,215,664 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PRU shares. Evercore ISI upped their target price on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Raymond James cut shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Wells Fargo & Company upped their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Piper Sandler cut their target price on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $111.08.

About Prudential Financial

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.