Vanguard Group Inc. Has $4.96 Billion Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Vanguard Group Inc. lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,850,558 shares of the financial services provider’s stock after buying an additional 220,671 shares during the period. Vanguard Group Inc. owned about 11.76% of Prudential Financial worth $4,960,547,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Meridian Wealth Management LLC acquired a new stake in shares of Prudential Financial during the third quarter valued at about $280,000. Great Valley Advisor Group Inc. raised its holdings in Prudential Financial by 7.8% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 7,766 shares of the financial services provider’s stock valued at $940,000 after buying an additional 559 shares during the last quarter. Cerity Partners LLC grew its holdings in Prudential Financial by 4.0% during the 3rd quarter. Cerity Partners LLC now owns 130,778 shares of the financial services provider’s stock worth $15,837,000 after acquiring an additional 5,011 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Prudential Financial by 3.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 7,012 shares of the financial services provider’s stock valued at $849,000 after acquiring an additional 237 shares during the period. Finally, Swedbank AB lifted its holdings in shares of Prudential Financial by 4.2% during the third quarter. Swedbank AB now owns 311,700 shares of the financial services provider’s stock worth $37,747,000 after purchasing an additional 12,468 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on PRU shares. TD Cowen raised their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Jefferies Financial Group raised their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler reduced their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Barclays boosted their price target 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. Finally, Morgan Stanley decreased their price objective 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $126.15.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction dated 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 directly owns 27,072 shares of the company’s stock, valued at $2,869,090.56. The trade was 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 insiders.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $113.35 on Tuesday. The firm’s 50-day moving average price is $113.51 and its 200-day moving average price is $119.00. The firm has a market capitalization of $40.58 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 1-year low of $104.45 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results 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%. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is currently 72.29%.

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.