B. Metzler seel. Sohn & Co. Holding AG Purchases Shares of 23,752 Prudential Financial, Inc. (NYSE:PRU)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,752 shares of the financial services provider’s stock, valued at approximately $2,876,000.

Several other institutional investors also recently modified their holdings of the business. ORG Partners LLC bought a new stake in shares of Prudential Financial in the 2nd quarter valued at about $156,000. PGGM Investments lifted its stake in shares of Prudential Financial by 98.0% in the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after acquiring an additional 31,807 shares during the period. Janus Henderson Group PLC boosted its holdings in Prudential Financial by 49.5% in the first quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock valued at $9,409,000 after acquiring an additional 26,520 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in Prudential Financial during the 2nd quarter valued at approximately $530,000. Finally, Swedbank AB raised its holdings in Prudential Financial by 4.2% during the 3rd quarter. Swedbank AB now owns 311,700 shares of the financial services provider’s stock worth $37,747,000 after purchasing an additional 12,468 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Bank of America lifted their price objective on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. TD Cowen initiated coverage on Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price for the company. Piper Sandler lifted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, UBS Group raised their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $125.69.

Insider Buying and Selling at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Prudential Financial Price Performance

NYSE:PRU opened at $124.11 on Thursday. The firm has a market capitalization of $44.18 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 0.91 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a fifty day moving average of $122.86 and a 200 day moving average of $119.56. Prudential Financial, Inc. has a 52-week low of $93.60 and a 52-week high of $129.13.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the business earned $3.44 earnings per share. On average, research analysts expect that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.19%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

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.