Xponance Inc. Acquires 3,589 Shares of Prudential Financial, Inc. (NYSE:PRU)

Xponance Inc. lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 54,424 shares of the financial services provider’s stock after purchasing an additional 3,589 shares during the period. Xponance Inc.’s holdings in Prudential Financial were worth $6,451,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PRU. Nordea Investment Management AB boosted its position in Prudential Financial by 176.8% during the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after buying an additional 665,180 shares during the period. Raymond James Financial Inc. purchased a new stake in Prudential Financial during the 4th quarter valued at $76,303,000. Amundi boosted its position in Prudential Financial by 32.7% during the 4th quarter. Amundi now owns 1,535,514 shares of the financial services provider’s stock valued at $181,851,000 after buying an additional 378,266 shares during the period. FMR LLC boosted its position in Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after buying an additional 344,254 shares during the period. Finally, Geode Capital Management LLC boosted its position in Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after buying an additional 341,787 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.8 %

NYSE:PRU opened at $110.64 on Thursday. The firm has a market cap of $39.61 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $104.45 and a fifty-two week high of $130.55. The firm has a 50-day simple moving average of $113.81 and a two-hundred day simple moving average of $119.18.

Prudential Financial (NYSE:PRU) last released 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 net margin of 4.01% and a return on equity of 15.86%. Analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Morgan Stanley dropped their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Piper Sandler dropped their target price 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, January 16th. Jefferies Financial Group raised their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Barclays raised their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $126.15.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares of the company’s stock, valued at $2,499,989.84. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial 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.