Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires New Holdings in Prudential Financial, Inc. $PRU

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,558 shares of the financial services provider’s stock, valued at approximately $627,000.

Several other large investors have also recently bought and sold shares of PRU. PNC Financial Services Group Inc. boosted its holdings in Prudential Financial by 5.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 125,618 shares of the financial services provider’s stock valued at $14,180,000 after purchasing an additional 6,860 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Prudential Financial by 45.8% in the fourth quarter. Handelsbanken Fonder AB now owns 108,060 shares of the financial services provider’s stock worth $12,198,000 after purchasing an additional 33,932 shares during the period. Csenge Advisory Group raised its position in shares of Prudential Financial by 27.0% in the fourth quarter. Csenge Advisory Group now owns 4,652 shares of the financial services provider’s stock worth $525,000 after buying an additional 990 shares in the last quarter. ProShare Advisors LLC boosted its stake in Prudential Financial by 7.5% during the fourth quarter. ProShare Advisors LLC now owns 76,400 shares of the financial services provider’s stock valued at $8,624,000 after buying an additional 5,344 shares during the period. Finally, Warner Group LLC purchased a new position in Prudential Financial during the fourth quarter worth about $224,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $104.26 on Friday. The firm has a market capitalization of $36.18 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $119.76. The business’s 50-day moving average price is $97.62 and its 200-day moving average price is $104.58.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The company had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the previous year, the company posted $3.29 EPS. Sell-side analysts forecast that Prudential Financial, Inc. will post 13.71 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.4%. Prudential Financial’s dividend payout ratio is 57.61%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRU. Piper Sandler raised their price target on Prudential Financial from $99.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Evercore restated a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Mizuho raised their target price on shares of Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Jefferies Financial Group cut shares of Prudential Financial from a “buy” rating to a “hold” rating and cut their price target for the stock from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Finally, Zacks Research lowered shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Reduce” and a consensus price target of $101.50.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.