Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,454,278 shares of the financial services provider’s stock after buying an additional 6,938 shares during the period. Bank of New York Mellon Corp owned about 0.69% of Prudential Financial worth $290,906,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after purchasing an additional 49,830 shares during the period. Geode Capital Management LLC lifted its stake in shares of Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after purchasing an additional 341,787 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Prudential Financial by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock worth $370,327,000 after buying an additional 47,561 shares during the period. FMR LLC raised its holdings in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after buying an additional 344,254 shares during the period. Finally, AustralianSuper Pty Ltd lifted its position in Prudential Financial by 2.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider’s stock worth $153,312,000 after acquiring an additional 28,459 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRU has been the subject of several recent research reports. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. Barclays raised their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. TD Cowen lifted their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, Piper Sandler reduced their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average price target of $125.69.

Prudential Financial Trading Up 0.6 %

NYSE:PRU opened at $111.81 on Thursday. Prudential Financial, Inc. has a 52 week low of $104.44 and a 52 week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market cap of $40.03 billion, a PE ratio of 14.97, a P/E/G ratio of 0.98 and a beta of 1.31. The business’s 50 day moving average is $116.46 and its two-hundred day moving average is $119.77.

Prudential Financial (NYSE:PRU) last released 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 return on equity of 15.86% and a net margin of 4.01%. On average, analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.83%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 72.29%.

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.