Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 22.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,239 shares of the financial services provider’s stock after buying an additional 599 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Prudential Financial were worth $383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Glenmede Trust Co. NA increased its position in Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after purchasing an additional 1,234 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Prudential Financial during the 4th quarter worth $3,423,000. Gateway Investment Advisers LLC raised its position in shares of Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after buying an additional 7,907 shares during the period. Principal Financial Group Inc. boosted its holdings in Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after acquiring an additional 15,695 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Prudential Financial by 2.3% during the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after acquiring an additional 1,765 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

PRU stock opened at $109.51 on Wednesday. The stock’s 50 day moving average is $116.05 and its two-hundred day moving average is $119.86. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. The company has a market capitalization of $39.21 billion, a PE ratio of 14.66, a P/E/G ratio of 0.98 and a beta of 1.31. 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 (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS 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%. Analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.93%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is presently 72.29%.

Analyst Ratings Changes

PRU has been the topic of several research analyst reports. Piper Sandler reduced their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley reduced their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company increased their price objective on shares of 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 reduced their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Finally, Barclays increased their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.