Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases New Shares in Prudential Financial, Inc. $PRU

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,558 shares of the financial services provider’s stock, valued at approximately $627,000.

A number of other institutional investors have also made changes to their positions in the business. Legal & General Group Plc raised its holdings in shares of Prudential Financial by 2.4% in the third quarter. Legal & General Group Plc now owns 2,701,116 shares of the financial services provider’s stock valued at $280,214,000 after buying an additional 62,366 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Prudential Financial by 16.6% in the fourth quarter. Nordea Investment Management AB now owns 2,044,374 shares of the financial services provider’s stock valued at $231,321,000 after buying an additional 291,422 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Prudential Financial by 1.5% in the third quarter. First Trust Advisors LP now owns 1,172,443 shares of the financial services provider’s stock valued at $121,629,000 after buying an additional 17,030 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Prudential Financial by 0.7% in the third quarter. Federated Hermes Inc. now owns 1,095,031 shares of the financial services provider’s stock valued at $113,599,000 after buying an additional 7,526 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its holdings in shares of Prudential Financial by 11.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 897,597 shares of the financial services provider’s stock valued at $101,321,000 after buying an additional 89,915 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRU has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on Prudential Financial from $99.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods boosted their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. UBS Group dropped their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Jefferies Financial Group cut Prudential Financial from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $124.00 to $98.00 in a report on Wednesday, April 22nd. Finally, BMO Capital Markets dropped their price objective on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a report on Thursday, April 23rd. Nine investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $101.50.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $104.12 on Friday. The stock has a market capitalization of $36.13 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.90 and a beta of 0.86. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $97.80 and a two-hundred day moving average price of $104.58.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.52. The firm had revenue of $15.23 billion during 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 period in the previous year, the business posted $3.29 EPS. Equities analysts predict that Prudential Financial, Inc. will post 13.82 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, May 26th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $5.60 annualized dividend and a yield of 5.4%. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

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.