28,880 Shares in Prudential Financial, Inc. (NYSE:PRU) Acquired by Avanza Fonder AB

Avanza Fonder AB acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 28,880 shares of the financial services provider’s stock, valued at approximately $3,423,000.

Several other large investors have also modified their holdings of PRU. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial in the 3rd quarter valued at $31,000. Quarry LP raised its position in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. Tompkins Financial Corp raised its position in Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. raised its position in Prudential Financial by 235.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 266 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in Prudential Financial in the 3rd quarter valued at $48,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRU has been the subject of several research reports. Jefferies Financial Group upped their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler reduced their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday. TD Cowen upped their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Bank of America upped their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company cut their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $127.25.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.

Prudential Financial Stock Performance

NYSE:PRU opened at $118.98 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. The stock has a market cap of $42.36 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31. The firm’s fifty day simple moving average is $122.12 and its 200-day simple moving average is $120.65.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the company posted $3.44 EPS. Analysts expect that Prudential Financial, Inc. will post 13.34 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.37%. Prudential Financial’s 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.