Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Magnus Financial Group LLC

Magnus Financial Group LLC increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 12.4% in the fourth quarter, Holdings Channel reports. The firm owned 2,210 shares of the financial services provider’s stock after buying an additional 244 shares during the quarter. Magnus Financial Group LLC’s holdings in Prudential Financial were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PRU. International Assets Investment Management LLC raised its stake in shares of Prudential Financial by 4,130.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after buying an additional 1,267,571 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Prudential Financial by 176.8% in the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after purchasing an additional 665,180 shares during the period. AQR Capital Management LLC grew its position in Prudential Financial by 97.4% during the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after buying an additional 357,300 shares during the period. FMR LLC lifted its position in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after acquiring an additional 344,254 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after acquiring an additional 341,787 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Down 2.5 %

Shares of PRU opened at $117.32 on Thursday. The stock’s fifty day simple moving average is $121.84 and its 200 day simple moving average is $120.71. Prudential Financial, Inc. has a twelve month low of $100.60 and a twelve month high of $130.55. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $41.76 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share 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 analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the company posted $3.44 EPS. On average, equities research analysts forecast that Prudential Financial, Inc. will post 13.26 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

Analyst Ratings Changes

Several analysts have weighed in on PRU shares. Jefferies Financial Group upped their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Bank of America raised their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a report on Thursday, January 16th. TD Cowen raised their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $127.25.

Insider Activity at Prudential Financial

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 purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

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.