Northeast Investment Management Makes New Investment in Prudential Financial, Inc. $PRU

Northeast Investment Management bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,222 shares of the financial services provider’s stock, valued at approximately $2,621,000.

A number of other hedge funds also recently bought and sold shares of PRU. Arrowstreet Capital Limited Partnership lifted its holdings in Prudential Financial by 183.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 804,316 shares of the financial services provider’s stock worth $83,440,000 after buying an additional 520,425 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Prudential Financial by 209.2% during the second quarter. Canada Pension Plan Investment Board now owns 520,025 shares of the financial services provider’s stock worth $55,871,000 after buying an additional 351,849 shares during the period. Algebris UK Ltd. purchased a new stake in Prudential Financial during the third quarter worth $36,298,000. Woodline Partners LP purchased a new stake in Prudential Financial during the third quarter worth $32,894,000. Finally, Nordea Investment Management AB lifted its holdings in Prudential Financial by 16.6% during the fourth quarter. Nordea Investment Management AB now owns 2,044,374 shares of the financial services provider’s stock worth $231,321,000 after buying an additional 291,422 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the subject of several analyst reports. Jefferies Financial Group lowered Prudential Financial from a “buy” rating to a “hold” rating and decreased their price objective for the company from $124.00 to $98.00 in a report on Wednesday, April 22nd. Wells Fargo & Company increased their price objective on Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday. Piper Sandler increased their price objective on Prudential Financial from $99.00 to $105.00 and gave the company a “neutral” rating in a report on Monday. Barclays increased their price objective on Prudential Financial from $89.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. Finally, Evercore reiterated a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Nine equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $101.00.

Prudential Financial Price Performance

NYSE:PRU opened at $102.59 on Wednesday. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $35.60 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.83 and a beta of 0.86. The stock’s 50-day moving average price is $96.93 and its 200-day moving average price is $104.56.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The company had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. During the same period in the previous year, the firm posted $3.29 EPS. As a group, equities analysts expect that Prudential Financial, Inc. will post 13.72 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, May 26th. Prudential Financial’s dividend payout ratio (DPR) is 57.61%.

More Prudential Financial News

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential Financial declared a quarterly dividend of $1.40 per share, signaling ongoing cash generation and supporting the stock’s income appeal. Prudential Financial Declares Quarterly Dividend on Common Stock
• Positive Sentiment: Piper Sandler raised its price target on PRU to $105 from $99, suggesting modest upside and reinforcing a neutral-to-positive view of the shares. Prudential Financial (NYSE:PRU) Price Target Raised to $105.00 at Piper Sandler
• Neutral Sentiment: Wells Fargo also increased its target to $100 from $93, but kept an underweight rating, limiting the bullish takeaway. Wells Fargo price target update
• Neutral Sentiment: Prudential’s annual Benefits & Beyond study highlighted rising medical costs and financial stress among employees, which is more of an industry/consumer trend update than a direct earnings driver. Employees Face Difficult Trade-offs Amid Rising Costs

Insiders Place Their Bets

In other Prudential Financial news, Director Thomas D. Stoddard bought 250 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were acquired at an average cost of $102.97 per share, with a total value of $25,742.50. Following the purchase, the director directly owned 250 shares of the company’s stock, valued at $25,742.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.05% of the stock is owned by company insiders.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.