Natixis Advisors LLC Grows Position in Prudential Financial, Inc. (NYSE:PRU)

Natixis Advisors LLC lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,319 shares of the financial services provider’s stock after buying an additional 8,078 shares during the period. Natixis Advisors LLC’s holdings in Prudential Financial were worth $16,509,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC grew its stake in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Prudential Financial in the second quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Prudential Financial in the 3rd quarter worth approximately $31,000. Crewe Advisors LLC purchased a new position in Prudential Financial during the 1st quarter worth approximately $33,000. Finally, Bank & Trust Co acquired a new stake in Prudential Financial during the 2nd quarter valued at approximately $37,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was 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 owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Prudential Financial Stock Down 1.7 %

PRU opened at $124.61 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a twelve month low of $93.32 and a twelve month high of $129.13. The company has a market cap of $44.36 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. The company has a 50-day moving average price of $122.67 and a 200 day moving average price of $119.53.

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

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PRU shares. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. Piper Sandler raised their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. UBS Group boosted their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, TD Cowen assumed coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $125.69.

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.