IFM Investors Pty Ltd Purchases 213 Shares of Prudential Financial, Inc. (NYSE:PRU)

IFM Investors Pty Ltd increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.3% during the 3rd quarter, Holdings Channel reports. The firm owned 82,144 shares of the financial services provider’s stock after purchasing an additional 213 shares during the quarter. IFM Investors Pty Ltd’s holdings in Prudential Financial were worth $9,948,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in shares of Prudential Financial by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after buying an additional 305,143 shares during the last quarter. International Assets Investment Management LLC boosted its position in Prudential Financial by 4,130.8% in 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 purchasing an additional 1,267,571 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in Prudential Financial by 2.8% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock valued at $145,027,000 after purchasing an additional 34,160 shares during the period. Federated Hermes Inc. raised its stake in shares of Prudential Financial by 8.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock worth $120,181,000 after purchasing an additional 82,620 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Prudential Financial by 7.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock worth $108,788,000 after buying an additional 62,578 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 0.2 %

Shares of Prudential Financial stock opened at $125.36 on Friday. The company’s 50-day moving average price is $119.79 and its 200-day moving average price is $117.69. The company has a market cap of $44.75 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 0.96 and a beta of 1.30. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. On average, equities analysts expect that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.15%. Prudential Financial’s dividend payout ratio is currently 66.84%.

Analyst Ratings Changes

PRU has been the subject of a number of research analyst reports. Morgan Stanley decreased their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. TD Cowen started coverage on Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price objective on the stock. UBS Group raised their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Bank of America upped their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eleven 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 data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $123.69.

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.