Mn Services Vermogensbeheer B.V. Increases Stake in Prudential Financial, Inc. (NYSE:PRU)

Mn Services Vermogensbeheer B.V. increased its position in Prudential Financial, Inc. (NYSE:PRU) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 144,392 shares of the financial services provider’s stock after purchasing an additional 3,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Prudential Financial were worth $17,115,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AMF Tjanstepension AB boosted its holdings in shares of Prudential Financial by 12.5% during the 3rd quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock valued at $24,642,000 after acquiring an additional 22,588 shares during the last quarter. Valmark Advisers Inc. raised its holdings in Prudential Financial by 16.9% during the third quarter. Valmark Advisers Inc. now owns 3,630 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 524 shares during the period. Pathway Financial Advisers LLC grew its holdings in Prudential Financial by 5.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 9,103 shares of the financial services provider’s stock valued at $1,102,000 after buying an additional 464 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Prudential Financial by 3.5% during the third quarter. First Trust Direct Indexing L.P. now owns 18,482 shares of the financial services provider’s stock valued at $2,238,000 after buying an additional 620 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in Prudential Financial by 0.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 15,775 shares of the financial services provider’s stock valued at $1,910,000 after buying an additional 99 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Barclays boosted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Finally, TD Cowen boosted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $125.69.

Prudential Financial Stock Up 0.7 %

PRU opened at $112.72 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average price of $116.41 and a two-hundred day moving average price of $119.72. Prudential Financial, Inc. has a 52 week low of $104.44 and a 52 week high of $130.55. The company has a market cap of $40.35 billion, a PE ratio of 15.09, a P/E/G ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.79%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 72.29%.

Prudential Financial Company Profile

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.