Prudential Financial, Inc. (NYSE:PRU) Stock Holdings Boosted by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.2% in the 3rd quarter, Holdings Channel reports. The fund owned 62,223 shares of the financial services provider’s stock after buying an additional 1,343 shares during the period. Public Sector Pension Investment Board’s holdings in Prudential Financial were worth $7,535,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Fiduciary Trust Co bought a new position in shares of Prudential Financial during the third quarter worth about $252,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Prudential Financial by 1.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 302,840 shares of the financial services provider’s stock worth $36,674,000 after purchasing an additional 4,782 shares during the period. Providence Capital Advisors LLC lifted its holdings in Prudential Financial by 1.0% in the third quarter. Providence Capital Advisors LLC now owns 27,677 shares of the financial services provider’s stock worth $3,352,000 after purchasing an additional 270 shares during the period. CreativeOne Wealth LLC lifted its holdings in Prudential Financial by 60.7% in the third quarter. CreativeOne Wealth LLC now owns 16,446 shares of the financial services provider’s stock worth $1,992,000 after purchasing an additional 6,209 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in Prudential Financial by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after purchasing an additional 1,234 shares during the period. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PRU shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. Barclays upped their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley cut their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Eleven research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $125.92.

Prudential Financial Price Performance

PRU stock opened at $129.42 on Friday. 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 one year low of $96.45 and a one year high of $130.55. The firm has a market capitalization of $46.07 billion, a PE ratio of 11.50, a P/E/G ratio of 0.93 and a beta of 1.29. The firm has a 50-day moving average of $124.24 and a two-hundred day moving average of $120.11.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate 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 prior year, the company earned $3.44 EPS. On average, analysts forecast that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.02%. Prudential Financial’s dividend payout ratio is 46.22%.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 6.61 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Prudential Financial 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.