Mediolanum International Funds Ltd Raises Holdings in Prudential Financial, Inc. (NYSE:PRU)

Key Points

• Mediolanum International Funds Ltd has increased its stake in Prudential Financial, Inc. by 48.7% during the 1st quarter, now owning 56,859 shares valued at approximately $6.26 million.
• Several institutions, including Northern Trust Corp and Geode Capital Management, have also raised their positions in Prudential, reflecting strong institutional interest with a total institutional ownership of 56.83%.
• Analysts have mixed ratings on Prudential, with a consensus rating of "Hold" and a target price averaging around $121.75, amid fluctuating price targets from different firms.

Mediolanum International Funds Ltd boosted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 48.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,859 shares of the financial services provider's stock after purchasing an additional 18,618 shares during the quarter. Mediolanum International Funds Ltd's holdings in Prudential Financial were worth $6,258,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Prudential Financial during the 4th quarter valued at $115,878,000. Northern Trust Corp raised its holdings in shares of Prudential Financial by 23.7% during the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after buying an additional 897,916 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Prudential Financial by 11,280.3% during the 1st quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after buying an additional 860,239 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Prudential Financial by 322.9% during the 4th quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider's stock worth $84,287,000 after buying an additional 542,964 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Prudential Financial by 11.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock worth $404,230,000 after buying an additional 352,335 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the business's stock in a transaction dated Monday, June 16th. The stock was purchased at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the acquisition, the insider owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by insiders.

Prudential Financial Stock Performance

Prudential Financial stock traded up $2.80 during mid-day trading on Thursday, reaching $104.58. 1,201,394 shares of the company's stock were exchanged, compared to its average volume of 1,766,308. The business's fifty day simple moving average is $104.90 and its 200 day simple moving average is $107.61. The firm has a market capitalization of $37.02 billion, a PE ratio of 16.58, a P/E/G ratio of 1.02 and a beta of 1.07. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.36. The firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The business's revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.39 earnings per share. On average, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial's payout ratio is 85.58%.

Analyst Ratings Changes

PRU has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Barclays upped their target price on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Morgan Stanley reduced their price target on Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their target price on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, UBS Group decreased their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $121.75.

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.