UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Prudential Financial, Inc. (NYSE:PRU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,410,363 shares of the financial services provider’s stock after buying an additional 352,335 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Prudential Financial were worth $404,230,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Waverly Advisors LLC boosted its stake in shares of Prudential Financial by 99.8% in the fourth quarter. Waverly Advisors LLC now owns 3,909 shares of the financial services provider’s stock valued at $463,000 after buying an additional 1,953 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of Prudential Financial in the fourth quarter valued at approximately $14,355,000. iSAM Funds UK Ltd purchased a new stake in Prudential Financial during the fourth quarter worth $1,119,000. Texas Bank & Trust Co purchased a new stake in Prudential Financial during the fourth quarter worth $497,000. Finally, Teza Capital Management LLC purchased a new stake in Prudential Financial during the fourth quarter worth $458,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on PRU shares. Piper Sandler decreased their target price on Prudential Financial from $110.00 to $109.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley boosted their target price on Prudential Financial from $108.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday. JPMorgan Chase & Co. decreased their target price on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company boosted their target price on Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $121.08.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of Prudential Financial stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Prudential Financial Price Performance

PRU stock opened at $105.82 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The firm has a market cap of $37.46 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The stock has a 50-day simple moving average of $104.77 and a 200-day simple moving average of $113.77.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same quarter last year, the firm earned $3.12 EPS. Prudential Financial’s quarterly revenue was down 38.2% on a year-over-year basis. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial’s dividend payout ratio is presently 85.58%.

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.