47,824 Shares in Prudential Financial, Inc. $PRU Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new stake in Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 47,824 shares of the financial services provider’s stock, valued at approximately $4,961,000.

A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in shares of Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 133 shares during the last quarter. Empowered Funds LLC increased its stake in Prudential Financial by 30.5% in the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after purchasing an additional 4,134 shares during the last quarter. Accurate Wealth Management LLC raised its holdings in Prudential Financial by 3.3% during the second quarter. Accurate Wealth Management LLC now owns 8,063 shares of the financial services provider’s stock worth $864,000 after purchasing an additional 261 shares in the last quarter. Patron Partners LLC lifted its position in shares of Prudential Financial by 8.4% during the 2nd quarter. Patron Partners LLC now owns 6,909 shares of the financial services provider’s stock worth $742,000 after buying an additional 533 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its holdings in shares of Prudential Financial by 80.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,508 shares of the financial services provider’s stock valued at $162,000 after buying an additional 671 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

NYSE PRU opened at $108.70 on Friday. The business’s 50-day moving average price is $112.28 and its 200 day moving average price is $107.23. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market cap of $38.05 billion, a P/E ratio of 14.93, a P/E/G ratio of 0.93 and a beta of 0.97. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $123.88.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.72 by $0.54. The company had revenue of $17.89 billion during the quarter, compared to analysts’ expectations of $13.77 billion. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.During the same period last year, the firm earned $3.48 EPS. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PRU. Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Piper Sandler lifted their target price on Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Barclays dropped their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Finally, Mizuho assumed coverage on Prudential Financial in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $120.78.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 8,000 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total transaction of $861,520.00. Following the completion of the transaction, the senior vice president owned 11,535 shares in the company, valued at approximately $1,242,204.15. This represents a 40.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 6,555 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $116.28, for a total transaction of $762,215.40. Following the completion of the sale, the executive vice president owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This trade represents a 22.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 62,719 shares of company stock valued at $6,796,067. 0.25% of the stock is owned by company insiders.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.