Prudential Financial, Inc. $PRU Stock Holdings Lessened by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 14.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 27,209 shares of the financial services provider’s stock after selling 4,423 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Prudential Financial were worth $2,658,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. VCI Wealth Management LLC raised its holdings in shares of Prudential Financial by 117.1% during the fourth quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider’s stock valued at $2,178,000 after acquiring an additional 10,404 shares during the period. KBC Group NV boosted its stake in Prudential Financial by 94.3% in the 4th quarter. KBC Group NV now owns 157,538 shares of the financial services provider’s stock worth $17,783,000 after purchasing an additional 76,461 shares during the period. Munich Reinsurance Co Stock Corp in Munich grew its position in Prudential Financial by 2,669.0% during the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 46,990 shares of the financial services provider’s stock worth $5,342,000 after purchasing an additional 45,293 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Prudential Financial by 9.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 171,486 shares of the financial services provider’s stock valued at $19,357,000 after purchasing an additional 14,327 shares during the period. Finally, Murphy Middleton Hinkle & Parker Inc. raised its stake in Prudential Financial by 846.7% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 25,921 shares of the financial services provider’s stock valued at $2,926,000 after purchasing an additional 23,183 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRU has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on Prudential Financial from $106.00 to $113.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Argus lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Piper Sandler increased their price objective on Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Bank of America lowered their target price on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company upped their target price on Prudential Financial from $100.00 to $103.00 and gave the company an “underweight” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $104.75.

Prudential Financial Trading Up 0.4%

Prudential Financial stock opened at $118.47 on Wednesday. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $120.53. 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 stock has a market cap of $41.11 billion, a P/E ratio of 12.19, a P/E/G ratio of 2.35 and a beta of 0.85. The company’s fifty day simple moving average is $107.93 and its 200-day simple moving average is $104.18.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The business had revenue of $15.23 billion during the quarter, compared to analyst estimates of $14.10 billion. During the same period last year, the company earned $3.29 earnings per share. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.81 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s payout ratio is currently 57.61%.

Prudential Financial Company 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.