Choreo LLC Purchases 6,409 Shares of Prudential Financial, Inc. (NYSE:PRU)

Choreo LLC increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 25.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,954 shares of the financial services provider’s stock after acquiring an additional 6,409 shares during the period. Choreo LLC’s holdings in Prudential Financial were worth $3,780,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Lion Street Advisors LLC boosted its holdings in shares of Prudential Financial by 40.7% in the 4th quarter. Lion Street Advisors LLC now owns 6,943 shares of the financial services provider’s stock valued at $823,000 after purchasing an additional 2,010 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Prudential Financial by 27.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,466 shares of the financial services provider’s stock valued at $4,426,000 after buying an additional 7,977 shares in the last quarter. Y.D. More Investments Ltd grew its position in Prudential Financial by 8.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,386 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 113 shares during the last quarter. Hager Investment Management Services LLC bought a new position in shares of Prudential Financial in the fourth quarter worth about $1,396,000. Finally, E. Ohman J or Asset Management AB boosted its stake in shares of Prudential Financial by 9.9% in the 4th quarter. E. Ohman J or Asset Management AB now owns 16,623 shares of the financial services provider’s stock valued at $1,970,000 after purchasing an additional 1,500 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRU has been the subject of several research reports. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Barclays raised their price objective on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Jefferies Financial Group lifted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler dropped their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $125.77.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Prudential Financial Stock Down 3.4 %

Prudential Financial stock opened at $113.90 on Thursday. The company has a market capitalization of $40.55 billion, a PE ratio of 10.12, a PEG ratio of 1.12 and a beta of 1.31. Prudential Financial, Inc. has a 12-month low of $102.67 and a 12-month high of $130.55. The firm’s fifty day moving average is $120.38 and its 200 day moving average is $120.46. 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 (NYSE:PRU) last released its quarterly earnings data 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 15.30% and a net margin of 6.03%. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company 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 4.74%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 46.22%.

Prudential Financial Company 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.