Principal Financial Group Inc. grew its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 419,733 shares of the financial services provider's stock after acquiring an additional 15,695 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Prudential Financial worth $50,830,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Prudential Financial by 4,130.8% in the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider's stock valued at $157,219,000 after buying an additional 1,267,571 shares during the period. AQR Capital Management LLC raised its stake in shares of Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider's stock valued at $84,874,000 after acquiring an additional 357,300 shares during the period. FMR LLC lifted its holdings in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock valued at $174,903,000 after acquiring an additional 344,254 shares in the last quarter. Geode Capital Management LLC boosted its position in Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after purchasing an additional 341,787 shares during the period. Finally, Legal & General Group Plc raised its position in Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock valued at $415,134,000 after purchasing an additional 305,143 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.
PRU has been the subject of a number of recent research reports. Evercore ISI upgraded Prudential Financial from an "underperform" rating to an "inline" rating and increased their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Barclays lifted their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Wells Fargo & Company upped their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 5th. Piper Sandler lifted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Bank of America upped their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $126.33.
Get Our Latest Analysis on Prudential Financial
In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business's stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company's stock, valued at $116,071,781.42. This represents a 6.61 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by insiders.
NYSE:PRU opened at $117.83 on Monday. The company has a market cap of $41.95 billion, a PE ratio of 10.47, a P/E/G ratio of 0.87 and a beta of 1.29. The business's 50 day moving average is $124.56 and its two-hundred day moving average is $120.42. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 52 week low of $100.60 and a 52 week high of $130.55.
Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the company posted $3.44 earnings per share. On average, analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.41%. Prudential Financial's dividend payout ratio (DPR) is 46.22%.
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.
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