Axa S.A. Boosts Stake in Prudential Financial, Inc. (NYSE:PRU)

AXA S.A. boosted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,612 shares of the financial services provider's stock after buying an additional 15,006 shares during the quarter. AXA S.A.'s holdings in Prudential Financial were worth $7,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PRU. Grove Bank & Trust grew its stake in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Prudential Financial in the 4th quarter worth approximately $29,000. CGC Financial Services LLC lifted its position in Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $33,000. Finally, Hopwood Financial Services Inc. bought a new position in shares of Prudential Financial in the fourth quarter worth approximately $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 3.5%

Shares of NYSE:PRU traded up $3.66 during midday trading on Monday, reaching $107.25. The company's stock had a trading volume of 358,126 shares, compared to its average volume of 1,610,313. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The firm has a market capitalization of $37.96 billion, a P/E ratio of 14.35, a PEG ratio of 0.98 and a beta of 1.07. The firm has a 50 day moving average of $104.89 and a 200-day moving average of $114.53. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The company's revenue for the quarter was down 38.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.12 earnings per share. On average, research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, May 20th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.04%. The ex-dividend date is Tuesday, May 20th. Prudential Financial's dividend payout ratio is currently 85.58%.

Insiders Place Their Bets

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the stock in a transaction on Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the transaction, the insider now directly owns 139,987 shares of the company's stock, valued at $3,992,429.24. The trade was a 60.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on PRU. JPMorgan Chase & Co. dropped their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company boosted their price target on Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Piper Sandler dropped their price objective on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an "underperform" rating and a $101.00 target price on the stock. Finally, Morgan Stanley dropped their price target on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $121.92.

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.