Stifel Financial Corp Has $113.53 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Stifel Financial Corp lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 957,821 shares of the financial services provider's stock after buying an additional 6,476 shares during the quarter. Stifel Financial Corp owned approximately 0.27% of Prudential Financial worth $113,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PRU. Norges Bank acquired a new position in Prudential Financial in the fourth quarter worth $115,878,000. Nordea Investment Management AB boosted its holdings in Prudential Financial by 176.8% in the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider's stock worth $123,804,000 after purchasing an additional 665,180 shares during the period. Raymond James Financial Inc. acquired a new position in Prudential Financial in the fourth quarter worth $76,303,000. Marshall Wace LLP boosted its holdings in Prudential Financial by 322.9% in the fourth quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider's stock worth $84,287,000 after purchasing an additional 542,964 shares during the period. Finally, Amundi boosted its holdings in Prudential Financial by 32.7% in the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider's stock worth $181,851,000 after purchasing an additional 378,266 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Buying and Selling

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

Prudential Financial Stock Performance

Shares of NYSE PRU traded down $1.18 during midday trading on Friday, reaching $102.85. 1,276,662 shares of the company traded hands, compared to its average volume of 1,609,158. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The stock has a 50-day moving average price of $106.64 and a 200 day moving average price of $116.14. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $36.45 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 5.25%. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's payout ratio is currently 72.29%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. 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 report on Wednesday, April 2nd. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective for the company. Barclays reduced their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. UBS Group reduced their price target on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Piper Sandler reduced their price target on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $121.85.

About Prudential Financial

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.