CANADA LIFE ASSURANCE Co Purchases 13,588 Shares of Prudential Financial, Inc. (NYSE:PRU)

CANADA LIFE ASSURANCE Co boosted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 415,502 shares of the financial services provider's stock after acquiring an additional 13,588 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.12% of Prudential Financial worth $49,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust raised its holdings in Prudential Financial by 65.9% in 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 period. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial in the fourth quarter worth about $29,000. CGC Financial Services LLC raised its holdings in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after buying an additional 124 shares during the period. Wingate Wealth Advisors Inc. acquired a new position in Prudential Financial during the 4th quarter worth approximately $33,000. Finally, Hopwood Financial Services Inc. purchased a new position in Prudential Financial in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was purchased at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the transaction, the insider now owns 139,987 shares of the company's stock, valued at $3,992,429.24. The trade was a 60.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

PRU has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Barclays dropped their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective for the company. Piper Sandler cut their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Morgan Stanley dropped their price target on shares of 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Prudential Financial currently has a consensus rating of "Hold" and a consensus target price of $121.85.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded up $2.46 on Thursday, reaching $104.05. 546,419 shares of the company were exchanged, compared to its average volume of 1,884,230. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company's 50-day moving average is $106.97 and its two-hundred day moving average is $116.46. The firm has a market cap of $36.88 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio is 72.29%.

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.