Generali Asset Management SPA SGR Acquires New Holdings in Prudential Financial, Inc. (NYSE:PRU)

Generali Asset Management SPA SGR acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,375 shares of the financial services provider’s stock, valued at approximately $6,445,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its position in Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 1,234 shares during the period. Avanza Fonder AB bought a new position in Prudential Financial during the fourth quarter valued at approximately $3,423,000. Gateway Investment Advisers LLC lifted its position in Prudential Financial by 56.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after purchasing an additional 7,907 shares during the period. Principal Financial Group Inc. lifted its position in Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Prudential Financial by 2.3% during the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after buying an additional 1,765 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, 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 disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $109.65 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a fifty day moving average price of $113.96 and a 200 day moving average price of $119.24. 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 market cap of $39.25 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 0.98 and a beta of 1.28.

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%. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.92%. Prudential Financial’s dividend payout ratio is currently 72.29%.

Analyst Ratings Changes

PRU has been the subject of a number of research reports. Barclays upped their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report 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 for the company in a report on Thursday, January 16th. TD Cowen upped their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods reduced their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Finally, Morgan Stanley reduced 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 report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $126.15.

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.