Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 302,840 shares of the financial services provider’s stock after purchasing an additional 4,782 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Prudential Financial were worth $36,674,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PRU. First Horizon Advisors Inc. grew its position in Prudential Financial by 4.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after buying an additional 6,641 shares in the last quarter. ORG Partners LLC bought a new position in shares of Prudential Financial in the second quarter valued at approximately $156,000. PGGM Investments increased its stake in shares of Prudential Financial by 98.0% during the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after acquiring an additional 31,807 shares during the period. Janus Henderson Group PLC raised its holdings in Prudential Financial by 49.5% during the first quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock worth $9,409,000 after purchasing an additional 26,520 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Prudential Financial during the 2nd quarter valued at $530,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Piper Sandler boosted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America lifted their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley reduced their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company upped their target price on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $125.92.

Insider Buying and Selling

In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $129.52 on Friday. The business has a fifty day simple moving average of $124.08 and a 200 day simple moving average of $120.03. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 1 year low of $95.10 and a 1 year high of $130.55. The firm has a market cap of $46.11 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 0.93 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the business posted $3.44 EPS. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 13.35 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, December 12th. Investors of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s payout ratio is presently 46.22%.

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.