Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 69.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,252 shares of the financial services provider’s stock after buying an additional 2,567 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Prudential Financial were worth $757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc increased its holdings in shares of Prudential Financial by 9.4% during 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. abrdn plc increased its holdings in Prudential Financial by 4.0% in the 3rd quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock valued at $158,120,000 after purchasing an additional 50,026 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after purchasing an additional 1,267,571 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in Prudential Financial by 2.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider’s stock valued at $153,312,000 after purchasing an additional 28,459 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Prudential Financial by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,065,600 shares of the financial services provider’s stock valued at $129,044,000 after purchasing an additional 2,700 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 in the company, valued at $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PRU has been the subject of several recent research reports. TD Cowen initiated coverage on Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target for the company. Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their price target on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, UBS Group upped their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $125.69.

Prudential Financial Stock Performance

Shares of PRU stock opened at $124.11 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial, Inc. has a one year low of $93.60 and a one year high of $129.13. The company’s 50-day simple moving average is $122.86 and its 200-day simple moving average is $119.56. The stock has a market capitalization of $44.18 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the company posted $3.44 earnings per share. Equities analysts anticipate that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.19%. Prudential Financial’s dividend payout ratio is currently 46.22%.

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.