BI Asset Management Fondsmaeglerselskab A S Raises Stake in Prudential Financial, Inc. $PRU

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 167.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 54,445 shares of the financial services provider's stock after buying an additional 34,123 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Prudential Financial were worth $6,146,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock valued at $436,000 after buying an additional 133 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of 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 period. Brown Advisory Inc. grew its holdings in Prudential Financial by 3.5% during the 2nd quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider's stock valued at $447,000 after purchasing an additional 140 shares in the last quarter. AXA S.A. increased its stake in Prudential Financial by 25.8% during the 2nd quarter. AXA S.A. now owns 56,700 shares of the financial services provider's stock worth $6,092,000 after buying an additional 11,630 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Prudential Financial by 15.1% in the 2nd quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider's stock worth $4,005,000 after buying an additional 4,895 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRU has been the subject of a number of recent analyst reports. Barclays raised their price objective on Prudential Financial from $89.00 to $90.00 and gave the company an "underweight" rating in a research note on Wednesday, May 6th. Piper Sandler lifted their price target on shares of Prudential Financial from $99.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. UBS Group reduced their price objective on shares of Prudential Financial from $105.00 to $98.00 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. Zacks Research lowered shares of Prudential Financial from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 29th. Finally, Weiss Ratings lowered shares of Prudential Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 13th. Nine research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $101.50.

Prudential Financial Stock Up 0.1%

Shares of Prudential Financial stock opened at $104.67 on Monday. The stock has a market capitalization of $36.32 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.90 and a beta of 0.86. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The business's 50 day simple moving average is $99.54 and its 200-day simple moving average is $104.31.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the previous year, the business earned $3.29 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post 13.84 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a yield of 5.3%. Prudential Financial's dividend payout ratio is currently 57.61%.

About Prudential Financial

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.

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