Zurcher Kantonalbank Zurich Cantonalbank Purchases 54,080 Shares of Prudential Financial, Inc. (NYSE:PRU)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 24.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 272,721 shares of the financial services provider's stock after acquiring an additional 54,080 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of Prudential Financial worth $28,284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PRU. Moneta Group Investment Advisors LLC raised its stake in shares of Prudential Financial by 104,987.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,450,633 shares of the financial services provider's stock valued at $243,740,000 after purchasing an additional 2,448,301 shares in the last quarter. Norges Bank acquired a new position in shares of Prudential Financial in the fourth quarter valued at $172,363,000. International Assets Investment Management LLC raised its stake in shares of Prudential Financial by 9,281.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider's stock valued at $141,962,000 after purchasing an additional 1,354,248 shares in the last quarter. Cowa LLC raised its stake in shares of Prudential Financial by 9,930.2% in the first quarter. Cowa LLC now owns 771,824 shares of the financial services provider's stock valued at $912,000 after purchasing an additional 764,129 shares in the last quarter. Finally, Mariner LLC raised its stake in Prudential Financial by 2,197.4% during the first quarter. Mariner LLC now owns 690,184 shares of the financial services provider's stock worth $81,560,000 after acquiring an additional 660,142 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Trading Down 0.2 %

PRU traded down $0.24 during midday trading on Wednesday, reaching $107.35. 1,226,825 shares of the company were exchanged, compared to its average volume of 1,528,821. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a one year low of $77.22 and a one year high of $118.69. The stock has a market capitalization of $38.54 billion, a P/E ratio of 16.05, a PEG ratio of 0.73 and a beta of 1.37. The stock's 50-day simple moving average is $111.20 and its 200 day simple moving average is $102.90.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.67 by ($0.09). The company had revenue of $13.02 billion for the quarter, compared to the consensus estimate of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. Prudential Financial's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $2.42 EPS. As a group, analysts forecast that Prudential Financial, Inc. will post 13.4 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.84%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.25. Prudential Financial's dividend payout ratio (DPR) is currently 77.73%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares of the company's stock, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares of the company's stock, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 7,685 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the transaction, the executive vice president now directly owns 13,691 shares in the company, valued at approximately $1,527,504.87. The disclosure for this sale can be found here. Insiders have sold a total of 29,255 shares of company stock valued at $3,215,664 over the last 90 days. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PRU shares. Evercore ISI increased their price objective on Prudential Financial from $104.00 to $115.00 and gave the stock an "underperform" rating in a research note on Thursday, April 11th. Piper Sandler increased their price objective on Prudential Financial from $114.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. TheStreet upgraded Prudential Financial from a "c+" rating to an "a-" rating in a research note on Tuesday, February 6th. Raymond James lowered Prudential Financial from a "strong-buy" rating to a "market perform" rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $118.00 target price (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $111.33.

Prudential Financial 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.