Prudential Financial, Inc. $PRU Stock Bought by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its Prudential Financial stake by 13.6% in the third quarter, bringing its holdings to 166,885 shares valued at approximately $18.96 million. Institutional investors collectively own 56.83% of PRU.
• Prudential shares opened at $117.04, with a market capitalization of $40.38 billion and a 4.8% annualized dividend yield based on its $1.40 quarterly payout.
• Analyst sentiment remains cautious: PRU has a consensus “Reduce” rating and an average price target of $111.27, below its reported trading price, while recent targets were generally lowered.

Asset Management One Co. Ltd. grew its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 13.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 166,885 shares of the financial services provider's stock after purchasing an additional 19,960 shares during the period. Asset Management One Co. Ltd.'s holdings in Prudential Financial were worth $18,955,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Plimoth Trust Co. LLC grew its position in Prudential Financial by 2.4% in the second quarter. Plimoth Trust Co. LLC now owns 3,860 shares of the financial services provider's stock valued at $417,000 after purchasing an additional 90 shares in the last quarter. Security National Bank of SO Dak lifted its position in Prudential Financial by 0.6% during the 2nd quarter. Security National Bank of SO Dak now owns 14,676 shares of the financial services provider's stock worth $1,584,000 after buying an additional 90 shares in the last quarter. XXI Wealth LLC lifted its position in Prudential Financial by 5.0% during the 3rd quarter. XXI Wealth LLC now owns 1,967 shares of the financial services provider's stock worth $223,000 after buying an additional 93 shares in the last quarter. Keating Financial Advisory Services Inc. lifted its position in Prudential Financial by 34.8% during the 2nd quarter. Keating Financial Advisory Services Inc. now owns 395 shares of the financial services provider's stock worth $43,000 after buying an additional 102 shares in the last quarter. Finally, Magnus Financial Group LLC boosted its stake in shares of Prudential Financial by 4.8% during the 3rd quarter. Magnus Financial Group LLC now owns 2,472 shares of the financial services provider's stock worth $281,000 after buying an additional 113 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Performance

NYSE PRU opened at $117.04 on Friday. The firm has a market capitalization of $40.38 billion, a P/E ratio of 7.57, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. The firm's fifty day moving average price is $117.05 and its two-hundred day moving average price is $108.80. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $127.72.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.56. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same period in the previous year, the business earned $3.58 EPS. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.52 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Tuesday, August 25th. Prudential Financial's payout ratio is 50.72%.

Analysts Set New Price Targets

PRU has been the subject of several analyst reports. Mizuho set a $108.00 price objective on Prudential Financial in a report on Monday, October 12th. Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $123.00 to $119.00 and set a "market perform" rating on the stock in a report on Friday, October 16th. Jefferies Financial Group reduced their price target on Prudential Financial from $116.00 to $109.00 and set a "buy" rating for the company in a research report on Monday, October 12th. Barclays decreased their price target on Prudential Financial from $96.00 to $94.00 and set an "underweight" rating for the company in a research note on Monday, October 19th. Finally, Weiss Ratings lowered Prudential Financial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $111.27.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann Kappler sold 7,652 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the sale, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is currently owned by company insiders.

About Prudential Financial

Prudential Financial, Inc NYSE: PRU is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.

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