Mitsubishi UFJ Asset Management Co. Ltd. Buys 44,205 Shares of Prudential Financial, Inc. $PRU

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 675,324 shares of the financial services provider’s stock after purchasing an additional 44,205 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of Prudential Financial worth $72,557,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PRU. Nuveen LLC bought a new position in Prudential Financial during the first quarter valued at $90,010,000. Goldman Sachs Group Inc. boosted its stake in shares of Prudential Financial by 19.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock worth $469,777,000 after purchasing an additional 678,028 shares during the period. Nordea Investment Management AB grew its holdings in Prudential Financial by 49.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after purchasing an additional 567,571 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Prudential Financial in the 2nd quarter worth about $28,579,000. Finally, Amundi lifted its stake in Prudential Financial by 14.1% in the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock worth $183,571,000 after purchasing an additional 216,119 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PRU. Evercore ISI increased their price target on Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler decreased their target price on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. Wells Fargo & Company cut their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. Finally, Wolfe Research began coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $120.73.

Insiders Place Their Bets

In related news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. This trade represents a 15.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Trading Up 1.0%

Shares of NYSE:PRU opened at $106.24 on Monday. The company has a market capitalization of $37.19 billion, a PE ratio of 14.59, a P/E/G ratio of 0.88 and a beta of 1.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The business’s fifty day simple moving average is $103.75 and its 200-day simple moving average is $104.57.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. The business had revenue of $8.35 billion during the quarter. As a group, equities research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be paid a $1.35 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a yield of 5.1%. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

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.