Man Group plc Has $28.73 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Man Group plc grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 35.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,375 shares of the financial services provider's stock after acquiring an additional 64,037 shares during the period. Man Group plc owned about 0.07% of Prudential Financial worth $28,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Avanza Fonder AB bought a new position in Prudential Financial in the 4th quarter worth $3,423,000. Gateway Investment Advisers LLC lifted its stake in Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock worth $2,607,000 after purchasing an additional 7,907 shares in the last quarter. Burney Co. lifted its stake in Prudential Financial by 7.4% in the 4th quarter. Burney Co. now owns 32,769 shares of the financial services provider's stock worth $3,884,000 after purchasing an additional 2,248 shares in the last quarter. Merit Financial Group LLC lifted its stake in Prudential Financial by 136.4% in the 4th quarter. Merit Financial Group LLC now owns 6,627 shares of the financial services provider's stock worth $785,000 after purchasing an additional 3,824 shares in the last quarter. Finally, Orca Wealth Management LLC purchased a new stake in Prudential Financial in the 4th quarter worth $3,424,000. Institutional investors own 56.83% of the company's stock.

Prudential Financial Price Performance

NYSE:PRU traded up $0.67 during mid-day trading on Monday, hitting $108.00. 1,515,161 shares of the company's stock traded hands, compared to its average volume of 1,619,236. The company has a market cap of $38.23 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The firm's 50 day simple moving average is $104.71 and its 200 day simple moving average is $113.92.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The firm had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. During the same period in the previous year, the company posted $3.12 earnings per share. Prudential Financial's revenue was down 38.2% compared to the same quarter last year. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial's payout ratio is 85.58%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the stock in a transaction on Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the acquisition, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on PRU shares. Piper Sandler decreased their target price on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. UBS Group reduced their price objective on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $121.08.

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.