Algebris UK Ltd Purchases 96,725 Shares of Prudential Financial, Inc. (NYSE:PRU)

Algebris UK Ltd boosted its position in Prudential Financial, Inc. (NYSE:PRU) by 79.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,412 shares of the financial services provider’s stock after purchasing an additional 96,725 shares during the period. Prudential Financial comprises approximately 6.3% of Algebris UK Ltd’s holdings, making the stock its 4th largest position. Algebris UK Ltd’s holdings in Prudential Financial were worth $24,951,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vinva Investment Management Ltd lifted its holdings in shares of Prudential Financial by 13.2% in the 4th quarter. Vinva Investment Management Ltd now owns 18,742 shares of the financial services provider’s stock valued at $2,214,000 after buying an additional 2,186 shares during the period. Xponance Inc. raised its position in Prudential Financial by 7.1% in the fourth quarter. Xponance Inc. now owns 54,424 shares of the financial services provider’s stock worth $6,451,000 after acquiring an additional 3,589 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in Prudential Financial in the fourth quarter valued at $6,445,000. Horizon Investments LLC boosted its position in shares of Prudential Financial by 1.7% during the 4th quarter. Horizon Investments LLC now owns 6,386 shares of the financial services provider’s stock worth $757,000 after purchasing an additional 107 shares in the last quarter. Finally, TCTC Holdings LLC acquired a new position in shares of Prudential Financial during the 4th quarter worth $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares of the company’s stock, valued at $2,499,989.84. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Trading Down 0.6 %

Shares of Prudential Financial stock opened at $109.65 on Wednesday. The firm has a market cap of $39.25 billion, a PE ratio of 14.68, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a fifty-two week low of $104.45 and a fifty-two week high of $130.55. The business’s fifty day moving average is $113.96 and its two-hundred day moving average is $119.24.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) 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%. Analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.92%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s payout ratio is presently 72.29%.

Analysts Set New Price Targets

PRU has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Morgan Stanley lowered their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company lifted their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. TD Cowen upped their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Finally, Piper Sandler cut their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $126.15.

About Prudential Financial

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.