Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 45.7% in the fourth quarter, Holdings Channel reports. The fund owned 33,741 shares of the financial services provider’s stock after purchasing an additional 10,591 shares during the period. Mizuho Securities USA LLC’s holdings in Prudential Financial were worth $3,999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PRU. Grove Bank & Trust increased its stake in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Prudential Financial in the 4th quarter worth $29,000. CGC Financial Services LLC increased its position 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 purchasing an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial during the 4th quarter worth about $33,000. Finally, Quarry LP increased its position in shares of Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays raised their price objective on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Wells Fargo & Company raised their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. TD Cowen raised their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Finally, Piper Sandler lowered their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $126.15.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now owns 87,047 shares of the company’s stock, valued at approximately $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU opened at $110.35 on Monday. The stock has a 50-day simple moving average of $113.57 and a 200-day simple moving average of $119.03. 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 stock has a market capitalization of $39.51 billion, a PE ratio of 14.77, a PEG ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

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.