Tokio Marine Asset Management Co. Ltd. Raises Stake in Prudential Financial, Inc. (NYSE:PRU)

Tokio Marine Asset Management Co. Ltd. lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 7.5% in the 3rd quarter, Holdings Channel reports. The firm owned 9,703 shares of the financial services provider’s stock after purchasing an additional 673 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Prudential Financial were worth $1,175,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC increased its stake in Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. Lynx Investment Advisory acquired a new stake in Prudential Financial in the 2nd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new position in Prudential Financial during the third quarter worth about $31,000. Strategic Financial Concepts LLC lifted its holdings in shares of Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 25,027 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Prudential Financial during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. This represents a 16.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PRU shares. UBS Group upped their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the company from $117.00 to $140.00 in a report on Thursday. Wells Fargo & Company upped their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Citigroup boosted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $125.69.

Prudential Financial Stock Up 1.3 %

PRU stock opened at $127.41 on Friday. Prudential Financial, Inc. has a 52-week low of $93.32 and a 52-week high of $129.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $45.36 billion, a P/E ratio of 11.33, a P/E/G ratio of 0.89 and a beta of 1.29. The company’s 50 day simple moving average is $121.92 and its 200-day simple moving average is $119.11.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the business posted $3.44 EPS. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.08%. Prudential Financial’s dividend payout ratio is 46.22%.

About Prudential Financial

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.