Prudential Financial, Inc. (NYSE:PRU) Position Increased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co increased its stake in Prudential Financial, Inc. (NYSE:PRUFree Report) by 3.4% during the 4th quarter, HoldingsChannel reports. The firm owned 31,693 shares of the financial services provider’s stock after acquiring an additional 1,049 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Prudential Financial were worth $3,287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PRU. Van ECK Associates Corp lifted its holdings in shares of Prudential Financial by 4.0% in the 3rd quarter. Van ECK Associates Corp now owns 9,093 shares of the financial services provider’s stock worth $863,000 after purchasing an additional 346 shares during the last quarter. HighTower Advisors LLC raised its stake in Prudential Financial by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 56,621 shares of the financial services provider’s stock valued at $5,369,000 after acquiring an additional 4,021 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Prudential Financial by 2,368,940.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 236,904 shares of the financial services provider’s stock valued at $22,480,000 after acquiring an additional 236,894 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Prudential Financial by 51.9% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 102,657 shares of the financial services provider’s stock valued at $9,741,000 after acquiring an additional 35,069 shares in the last quarter. Finally, Greenleaf Trust raised its stake in Prudential Financial by 11.7% during the 3rd quarter. Greenleaf Trust now owns 9,198 shares of the financial services provider’s stock valued at $873,000 after acquiring an additional 967 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the transaction, the executive vice president now owns 202,083 shares in the company, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

PRU has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Piper Sandler cut their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Jefferies Financial Group raised Prudential Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $121.00 to $143.00 in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods boosted their price objective on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, Evercore ISI boosted their price objective on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $115.25.

Check Out Our Latest Stock Analysis on PRU

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $117.37 on Tuesday. Prudential Financial, Inc. has a 52-week low of $83.34 and a 52-week high of $121.39. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $42.14 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 0.88 and a beta of 1.35. The stock’s fifty day simple moving average is $115.26 and its 200 day simple moving average is $109.24.

Prudential Financial (NYSE:PRUGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same quarter in the prior year, the firm posted $2.66 EPS. The business’s quarterly revenue was up 69.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.43%. Prudential Financial’s dividend payout ratio is 88.44%.

Prudential Financial Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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