Swiss Life Asset Management Ltd Buys 17,343 Shares of Prudential Financial, Inc. $PRU

Swiss Life Asset Management Ltd lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 24.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 89,481 shares of the financial services provider’s stock after acquiring an additional 17,343 shares during the period. Swiss Life Asset Management Ltd’s holdings in Prudential Financial were worth $10,101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. Salomon & Ludwin LLC grew its holdings in Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after buying an additional 114 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in Prudential Financial in the 4th quarter valued at approximately $28,000. Coston McIsaac & Partners grew its holdings in Prudential Financial by 93.4% in the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after buying an additional 128 shares during the last quarter. Wealth Watch Advisors INC acquired a new stake in Prudential Financial in the 3rd quarter valued at approximately $30,000. Finally, Dunhill Financial LLC increased its position in shares of Prudential Financial by 982.8% during the fourth quarter. Dunhill Financial LLC now owns 314 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU stock opened at $102.59 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $35.60 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 1.83 and a beta of 0.86. The stock’s fifty day simple moving average is $96.93 and its 200 day simple moving average is $104.56. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $119.76.

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

Prudential Financial Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a yield of 5.5%. Prudential Financial’s payout ratio is currently 57.61%.

Analyst Ratings Changes

A number of analysts have recently issued reports on PRU shares. Weiss Ratings cut Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Wells Fargo & Company boosted their price target on Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. UBS Group decreased their price target on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Finally, Zacks Research lowered Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Nine research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of “Reduce” and an average target price of $101.00.

Key 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

Insider Buying and Selling

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

Prudential Financial Company Profile

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.