Aaron Wealth Advisors LLC Grows Stake in Prudential Financial, Inc. (NYSE:PRU)

Aaron Wealth Advisors LLC raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 20.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,518 shares of the financial services provider’s stock after purchasing an additional 604 shares during the period. Aaron Wealth Advisors LLC’s holdings in Prudential Financial were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after buying an additional 1,267,571 shares during the period. Nordea Investment Management AB grew its holdings 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 purchasing an additional 665,180 shares during the last quarter. AQR Capital Management LLC raised its position in Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after purchasing an additional 357,300 shares during the period. FMR LLC lifted its stake in Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after purchasing an additional 344,254 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Prudential Financial by 4.1% during the third 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. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRU. Jefferies Financial Group raised their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company lowered their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Barclays reduced their price target on shares of Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Friday. Bank of America upped their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Piper Sandler decreased their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $127.25.

Prudential Financial Trading Up 0.5 %

Shares of NYSE PRU opened at $118.98 on Monday. The business has a fifty day moving average price of $122.06 and a 200 day moving average price of $120.67. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $42.36 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the firm earned $3.44 EPS. Equities research analysts expect that Prudential Financial, Inc. will post 13.34 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.37%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

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.