Financial Counselors Inc. Acquires 1,413 Shares of Prudential Financial, Inc. (NYSE:PRU)

Financial Counselors Inc. increased its position in Prudential Financial, Inc. (NYSE:PRUFree Report) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 138,471 shares of the financial services provider’s stock after purchasing an additional 1,413 shares during the quarter. Financial Counselors Inc.’s holdings in Prudential Financial were worth $13,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Czech National Bank lifted its stake in shares of Prudential Financial by 46.8% in the 3rd quarter. Czech National Bank now owns 63,444 shares of the financial services provider’s stock valued at $6,020,000 after purchasing an additional 20,235 shares during the period. Bridgewater Associates LP lifted its stake in shares of Prudential Financial by 80.5% in the 2nd quarter. Bridgewater Associates LP now owns 248,877 shares of the financial services provider’s stock valued at $21,956,000 after purchasing an additional 110,982 shares during the period. AMF Tjanstepension AB lifted its stake in shares of Prudential Financial by 5.5% in the 3rd quarter. AMF Tjanstepension AB now owns 265,099 shares of the financial services provider’s stock valued at $25,181,000 after purchasing an additional 13,800 shares during the period. Cerity Partners LLC lifted its stake in shares of Prudential Financial by 63.6% in the 2nd quarter. Cerity Partners LLC now owns 137,498 shares of the financial services provider’s stock valued at $12,130,000 after purchasing an additional 53,461 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Prudential Financial by 98,060.5% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,968,118 shares of the financial services provider’s stock valued at $173,627,000 after purchasing an additional 1,966,113 shares during the period. Hedge funds and other institutional investors own 54.92% of the company’s stock.

Prudential Financial Stock Up 1.0 %

PRU stock opened at $106.62 on Wednesday. Prudential Financial, Inc. has a 1-year low of $75.37 and a 1-year high of $107.31. The business has a fifty day moving average price of $102.09 and a 200-day moving average price of $96.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market capitalization of $38.49 billion, a P/E ratio of 68.79, a P/E/G ratio of 0.75 and a beta of 1.38.

Prudential Financial (NYSE:PRUGet Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.16 by $0.28. Prudential Financial had a net margin of 1.21% and a return on equity of 16.03%. The firm had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the prior year, the business earned $2.13 EPS. Equities analysts forecast that Prudential Financial, Inc. will post 11.69 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Tuesday, November 21st were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Monday, November 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 322.58%.

Insider Transactions at Prudential Financial

In related news, CFO Kenneth Tanji sold 23,124 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $105.14, for a total value of $2,431,257.36. Following the completion of the sale, the chief financial officer now directly owns 47,155 shares of the company’s stock, valued at approximately $4,957,876.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Timothy L. Schmidt sold 8,281 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $94.49, for a total value of $782,471.69. Following the transaction, the senior vice president now directly owns 14,621 shares of the company’s stock, valued at approximately $1,381,538.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Tanji sold 23,124 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $105.14, for a total transaction of $2,431,257.36. Following the sale, the chief financial officer now directly owns 47,155 shares of the company’s stock, valued at $4,957,876.70. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Prudential Financial in a research note on Wednesday, October 4th. They set a “hold” rating and a $99.00 price objective for the company. Morgan Stanley lifted their price objective on Prudential Financial from $103.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. StockNews.com assumed coverage on Prudential Financial in a research note on Thursday, October 5th. They set a “hold” rating for the company. UBS Group lifted their price objective on Prudential Financial from $97.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Finally, TheStreet cut Prudential Financial from a “b” rating to a “c” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.80.

Get Our Latest Stock Analysis on PRU

Prudential Financial Profile

(Free Report)

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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.

Further Reading

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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