Vinva Investment Management Ltd Grows Holdings in Prudential Financial, Inc. (NYSE:PRU)

Vinva Investment Management Ltd raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,556 shares of the financial services provider’s stock after purchasing an additional 2,052 shares during the quarter. Vinva Investment Management Ltd’s holdings in Prudential Financial were worth $2,000,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Lynx Investment Advisory purchased a new position in shares of Prudential Financial in the 2nd quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Prudential Financial in the 3rd quarter valued at $31,000. Bank & Trust Co acquired a new stake in shares of Prudential Financial in the 2nd quarter worth $37,000. Hobbs Group Advisors LLC purchased a new stake in Prudential Financial in the 2nd quarter valued at approximately $38,000. Finally, Tompkins Financial Corp boosted its stake in shares of Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares in the company, valued at approximately $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 insiders.

Prudential Financial Trading Down 0.1 %

Shares of PRU stock opened at $129.42 on Friday. Prudential Financial, Inc. has a twelve month low of $96.45 and a twelve month high of $130.55. The company has a market capitalization of $46.07 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.93 and a beta of 1.29. The firm has a 50-day moving average price of $124.24 and a 200 day moving average price of $120.11. 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 (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the prior year, the firm posted $3.44 earnings per share. Research analysts forecast that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on PRU. Barclays raised their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Piper Sandler lifted their price objective on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Bank of America upped their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $125.92.

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.