Asset Management One Co. Ltd. Has $19.38 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Asset Management One Co. Ltd. boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,755 shares of the financial services provider’s stock after acquiring an additional 1,105 shares during the period. Asset Management One Co. Ltd.’s holdings in Prudential Financial were worth $19,376,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. AMF Tjanstepension AB grew its stake in Prudential Financial by 12.5% during the third quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock worth $24,642,000 after buying an additional 22,588 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $252,000. Vontobel Holding Ltd. raised its position in Prudential Financial by 0.7% during the third quarter. Vontobel Holding Ltd. now owns 34,617 shares of the financial services provider’s stock valued at $4,192,000 after purchasing an additional 232 shares in the last quarter. Good Life Advisors LLC boosted its holdings in shares of Prudential Financial by 18.2% in the 3rd quarter. Good Life Advisors LLC now owns 4,889 shares of the financial services provider’s stock valued at $592,000 after purchasing an additional 754 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Prudential Financial by 6.6% in the 3rd quarter. Global Retirement Partners LLC now owns 5,968 shares of the financial services provider’s stock valued at $723,000 after purchasing an additional 367 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

Shares of PRU stock opened at $111.54 on Friday. The business’s 50 day simple moving average is $117.87 and its 200 day simple moving average is $119.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The stock has a market capitalization of $39.71 billion, a PE ratio of 14.93, a PEG ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, research analysts forecast that Prudential Financial, Inc. will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be paid a $1.35 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.84%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 69.61%.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired 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 $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PRU. BMO Capital Markets began coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Keefe, Bruyette & Woods lowered their price objective 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. Piper Sandler decreased 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 note on Thursday, January 16th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Barclays boosted their price objective on 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 equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $125.46.

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.