Gateway Investment Advisers LLC Raises Holdings in Prudential Financial, Inc. (NYSE:PRU)

Gateway Investment Advisers LLC boosted its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 56.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,998 shares of the financial services provider's stock after purchasing an additional 7,907 shares during the quarter. Gateway Investment Advisers LLC's holdings in Prudential Financial were worth $2,607,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PRU. Ashton Thomas Securities LLC purchased a new stake in shares of Prudential Financial in the third quarter worth $31,000. Quarry LP raised its holdings in shares of Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 222 shares in the last quarter. Tompkins Financial Corp boosted its position in shares of Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 140 shares during the last quarter. GHP Investment Advisors Inc. increased its position in shares of Prudential Financial by 235.4% in the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider's stock worth $46,000 after purchasing an additional 266 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in Prudential Financial in the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm's stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRU. Evercore ISI raised shares of Prudential Financial from an "underperform" rating to an "inline" rating and increased their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $135.00 to $129.00 and set a "market perform" rating on the stock in a research report on Thursday. Wells Fargo & Company cut their price objective on Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating for the company in a report on Tuesday. TD Cowen raised their price objective on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Finally, Piper Sandler cut their target price on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $127.25.

Prudential Financial Trading Up 0.5 %

Shares of Prudential Financial stock traded up $0.58 during trading on Friday, reaching $118.98. 1,525,734 shares of the stock were exchanged, compared to its average volume of 1,094,363. Prudential Financial, Inc. has a 1 year low of $100.60 and a 1 year high of $130.55. The firm has a market cap of $42.36 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock's fifty day moving average is $122.06 and its 200 day moving average is $120.66.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the company earned $3.44 EPS. As a group, equities research analysts expect that Prudential Financial, Inc. will post 13.34 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial's payout ratio is 46.22%.

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.