Rockefeller Capital Management L.P. Acquires 82,173 Shares of Prudential Financial, Inc. $PRU

Rockefeller Capital Management L.P. lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 44.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 268,830 shares of the financial services provider’s stock after buying an additional 82,173 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.08% of Prudential Financial worth $30,346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of PRU. Brighton Jones LLC raised its holdings in shares of Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 133 shares during the period. Empowered Funds LLC grew its stake in shares of Prudential Financial by 30.5% in the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after buying an additional 4,134 shares during the period. Brown Advisory Inc. increased its position in Prudential Financial by 3.5% in the 2nd quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock valued at $447,000 after buying an additional 140 shares in the last quarter. AXA S.A. increased its position in Prudential Financial by 25.8% in the 2nd quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock valued at $6,092,000 after buying an additional 11,630 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Prudential Financial by 15.1% during the 2nd quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock worth $4,005,000 after buying an additional 4,895 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $106.86 on Monday. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $101.55 and a 200-day moving average price of $104.31. The company 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 announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.52. The company had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the previous year, the firm earned $3.29 earnings per share. Equities analysts anticipate that Prudential Financial, Inc. will post 13.78 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s payout ratio is currently 57.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PRU shares. Piper Sandler raised their price objective on Prudential Financial from $99.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Evercore reiterated a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Weiss Ratings raised shares of Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. BMO Capital Markets decreased their price target on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a research note on Thursday, April 23rd. Finally, UBS Group lowered their price objective on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Eleven analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $101.50.

About Prudential Financial

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.