Asset Management One Co. Ltd. Has $19.38 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Asset Management One Co. Ltd. lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,755 shares of the financial services provider’s stock after acquiring an additional 1,105 shares during the period. Asset Management One Co. Ltd.’s holdings in Prudential Financial were worth $19,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Grove Bank & Trust boosted its position in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial during the 3rd quarter worth $31,000. CGC Financial Services LLC grew its stake in Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 124 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial in the fourth quarter worth about $33,000. Finally, Quarry LP lifted its holdings in shares of Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.3 %

Shares of NYSE:PRU opened at $111.54 on Friday. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.14 and a current ratio of 0.16. The company has a market capitalization of $39.71 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. The company has a 50-day simple moving average of $117.87 and a 200 day simple moving average of $119.86.

Prudential Financial (NYSE:PRU) last posted 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 return on equity of 15.86% and a net margin of 4.01%. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.84%. Prudential Financial’s payout ratio is presently 69.61%.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on PRU. TD Cowen raised their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Barclays boosted their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Piper Sandler lowered their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Keefe, Bruyette & Woods reduced their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $125.46.

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.