Prudential Financial, Inc. $PRU Stake Raised by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking increased its stake in Prudential by 9.1% in Q4 to 171,486 shares, worth about $19.36 million.
• Several analysts have cut price targets and downgraded PRU, leaving an average rating of "Reduce" with a $101.75 target, after the company missed quarterly EPS by $0.07.
• Prudential raised its quarterly dividend to $1.40 (annualized $5.60), implying a 5.7% yield and a payout ratio of about 56%.

Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,486 shares of the financial services provider's stock after acquiring an additional 14,327 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Prudential Financial were worth $19,357,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. M&T Bank Corp grew its position in Prudential Financial by 6.8% during the fourth quarter. M&T Bank Corp now owns 69,360 shares of the financial services provider's stock valued at $7,829,000 after purchasing an additional 4,386 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Prudential Financial by 4.5% during the 4th quarter. D.A. Davidson & CO. now owns 120,268 shares of the financial services provider's stock valued at $13,576,000 after acquiring an additional 5,209 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Prudential Financial by 1.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 476,027 shares of the financial services provider's stock worth $53,739,000 after acquiring an additional 8,667 shares in the last quarter. Physician Wealth Advisors Inc. grew its stake in Prudential Financial by 68.1% in the fourth quarter. Physician Wealth Advisors Inc. now owns 464 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 188 shares in the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth about $386,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other news, Director Thomas D. Stoddard bought 250 shares of Prudential Financial stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average cost of $102.97 per share, with a total value of $25,742.50. Following the completion of the transaction, the director directly owned 250 shares in the company, valued at $25,742.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jacques Chappuis purchased 1,000 shares of the stock in a transaction on Friday, February 6th. The stock was acquired at an average cost of $100.97 per share, for a total transaction of $100,970.00. Following the acquisition, the executive vice president directly owned 1,000 shares in the company, valued at approximately $100,970. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 1,650 shares of company stock worth $168,841 in the last ninety days. 0.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PRU shares. BMO Capital Markets dropped their price objective on Prudential Financial from $91.00 to $87.00 and set an "underperform" rating on the stock in a report on Thursday, April 23rd. Mizuho decreased their price target on Prudential Financial from $113.00 to $101.00 and set a "neutral" rating for the company in a research note on Monday, April 13th. Barclays downgraded Prudential Financial from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $110.00 to $91.00 in a research note on Wednesday, April 22nd. Piper Sandler reduced their target price on Prudential Financial from $105.00 to $99.00 and set a "neutral" rating for the company in a report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $104.00 to $100.00 and set a "market perform" rating on the stock in a report on Thursday, April 23rd. Ten investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce" and an average target price of $101.75.

Prudential Financial Trading Up 1.9%

Prudential Financial stock opened at $98.27 on Friday. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $34.18 billion, a PE ratio of 9.83, a PEG ratio of 1.25 and a beta of 0.95. The business's 50-day simple moving average is $96.97 and its 200-day simple moving average is $104.57.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.37 by ($0.07). The business had revenue of $14.52 billion during the quarter, compared to analyst estimates of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same period last year, the business earned $2.96 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post 13.87 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Tuesday, February 17th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 5.7%. This is an increase from Prudential Financial's previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, February 17th. Prudential Financial's payout ratio is presently 56.00%.

Prudential Financial Profile

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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