abrdn plc Grows Position in Prudential Financial, Inc. (NYSE:PRU)

abrdn plc grew its position in Prudential Financial, Inc. (NYSE:PRU) by 0.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,309,662 shares of the financial services provider’s stock after purchasing an additional 507 shares during the quarter. abrdn plc’s holdings in Prudential Financial were worth $155,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Grove Bank & Trust lifted its stake in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial during the third quarter valued at $31,000. CGC Financial Services LLC grew its stake in shares of Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after buying an additional 124 shares in the last quarter. Quarry LP increased its holdings in shares of Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after buying an additional 222 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Prudential Financial during the 4th quarter valued at about $37,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 1.6 %

Shares of NYSE:PRU opened at $118.85 on Tuesday. The business has a 50-day moving average price of $120.80 and a 200-day moving average price of $120.55. The stock has a market cap of $42.31 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.12 and a beta of 1.31. Prudential Financial, Inc. has a 52-week low of $101.72 and a 52-week high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PRU shares. Jefferies Financial Group boosted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler decreased their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company cut their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets began 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. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $125.31.

About Prudential Financial

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.