Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 797,604 shares of the financial services provider’s stock after purchasing an additional 3,000 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Prudential Financial worth $96,590,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Creekmur Asset Management LLC increased its position in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory acquired a new position in shares of Prudential Financial in the 2nd quarter worth $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial in the 3rd quarter worth $31,000. Strategic Financial Concepts LLC grew its holdings in shares of Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 25,027 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in shares of Prudential Financial in the 1st quarter worth $33,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

PRU opened at $125.27 on Thursday. The stock has a market cap of $44.60 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.89 and a beta of 1.29. Prudential Financial, Inc. has a 1 year low of $92.57 and a 1 year high of $129.13. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $121.65 and a 200 day moving average price of $119.02.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter last year, the firm earned $3.44 earnings per share. Analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.15%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PRU. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Argus upgraded Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Citigroup lifted their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company raised their target price on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler raised their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $123.85.

Prudential Financial Profile

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.