Raiffeisen Bank International AG Buys New Stake in Prudential Financial, Inc. (NYSE:PRU)

Raiffeisen Bank International AG bought a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 54,090 shares of the financial services provider's stock, valued at approximately $6,391,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PRU. Grove Bank & Trust increased its position in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $29,000. CGC Financial Services LLC increased its holdings in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after buying an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter valued at approximately $33,000. Finally, Hopwood Financial Services Inc. acquired a new position in Prudential Financial in the fourth quarter valued at approximately $34,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on PRU shares. Wells Fargo & Company lifted their target price on Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. Barclays lowered their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research note 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 on the stock in a research note on Wednesday, April 2nd. Finally, Piper Sandler lowered their price objective on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $121.08.

Insider Buying and Selling

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This represents a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the transaction, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. This represents a 60.18% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.25% of the company's stock.

Prudential Financial Stock Down 2.9%

Prudential Financial stock traded down $3.02 during mid-day trading on Wednesday, reaching $102.85. 450,842 shares of the company's stock were exchanged, compared to its average volume of 1,614,690. The company has a fifty day moving average of $104.77 and a 200-day moving average of $113.77. The company has a market cap of $36.41 billion, a P/E ratio of 13.78, a P/E/G ratio of 0.98 and a beta of 1.07. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The business had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. During the same period last year, the firm earned $3.12 earnings per share. The company's revenue for the quarter 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date is Tuesday, May 20th. Prudential Financial's dividend payout ratio is presently 85.58%.

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.