10,383 Shares in Prudential Financial, Inc. (NYSE:PRU) Purchased by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. bought a new stake in 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 firm bought 10,383 shares of the financial services provider’s stock, valued at approximately $1,231,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Gladstone Institutional Advisory LLC raised its stake in Prudential Financial by 2.4% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 4,686 shares of the financial services provider’s stock valued at $568,000 after purchasing an additional 109 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Prudential Financial by 73.0% during the third quarter. Farther Finance Advisors LLC now owns 10,270 shares of the financial services provider’s stock valued at $1,244,000 after buying an additional 4,333 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in shares of Prudential Financial by 2.7% in the third quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock valued at $454,000 after buying an additional 97 shares during the period. Confluence Wealth Services Inc. grew its position in Prudential Financial by 7.8% during the third quarter. Confluence Wealth Services Inc. now owns 2,558 shares of the financial services provider’s stock worth $310,000 after buying an additional 184 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Prudential Financial by 49.5% during the third quarter. Van ECK Associates Corp now owns 17,600 shares of the financial services provider’s stock valued at $2,203,000 after acquiring an additional 5,825 shares during the period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Down 1.5 %

NYSE PRU opened at $113.37 on Tuesday. The stock’s 50 day simple moving average is $116.25 and its 200 day simple moving average is $119.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The firm has a market cap of $40.59 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.76%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 72.29%.

Analyst Ratings Changes

A number of analysts have commented on the company. Wells Fargo & Company raised their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. Jefferies Financial Group raised their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Piper Sandler lowered their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $126.15.

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.