Prudential Financial, Inc. $PRU Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 14.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,120,223 shares of the financial services provider’s stock after purchasing an additional 144,428 shares during the period. Hsbc Holdings PLC owned approximately 0.32% of Prudential Financial worth $126,550,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PRU. Norges Bank acquired a new stake in Prudential Financial during the 4th quarter valued at $140,530,000. Marshall Wace LLP lifted its holdings in Prudential Financial by 230.3% in the 4th quarter. Marshall Wace LLP now owns 1,374,966 shares of the financial services provider’s stock worth $155,206,000 after buying an additional 958,672 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Prudential Financial by 183.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 804,316 shares of the financial services provider’s stock worth $83,440,000 after buying an additional 520,425 shares in the last quarter. Morgan Stanley boosted its position in Prudential Financial by 6.7% in the 4th quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock valued at $750,562,000 after buying an additional 420,081 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Prudential Financial by 209.2% during the second quarter. Canada Pension Plan Investment Board now owns 520,025 shares of the financial services provider’s stock valued at $55,871,000 after acquiring an additional 351,849 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PRU shares. Weiss Ratings raised Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Barclays raised their price objective on Prudential Financial from $89.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. BMO Capital Markets dropped their price objective on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a report on Thursday, April 23rd. Jefferies Financial Group lowered Prudential Financial from a “buy” rating to a “hold” rating and cut their target price for the company from $124.00 to $98.00 in a research report on Wednesday, April 22nd. Finally, Piper Sandler raised their price target on shares of Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Eleven analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, Prudential Financial currently has an average rating of “Reduce” and an average target price of $101.50.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $106.86 on Monday. 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 $91.89 and a 1 year high of $119.76. The firm’s 50-day simple moving average is $101.55 and its 200-day simple moving average is $104.31. The firm has a market cap of $37.08 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.94 and a beta of 0.86.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The business had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same period last year, the firm earned $3.29 earnings per share. Equities analysts forecast that Prudential Financial, Inc. will post 13.78 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were given a $1.40 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 5.2%. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

Prudential Financial 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.