Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Catalina Capital Group LLC

Catalina Capital Group LLC increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 23.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,681 shares of the financial services provider’s stock after acquiring an additional 501 shares during the period. Catalina Capital Group LLC’s holdings in Prudential Financial were worth $325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Bank of Canada FI boosted its holdings in shares of Prudential Financial by 44.9% in the first quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after acquiring an additional 71,274 shares in the last quarter. ORG Partners LLC bought a new position in shares of Prudential Financial in the second quarter valued at approximately $156,000. Russell Investments Group Ltd. boosted its holdings in shares of Prudential Financial by 25.0% in the first quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock valued at $21,171,000 after acquiring an additional 36,159 shares in the last quarter. PGGM Investments boosted its holdings in shares of Prudential Financial by 98.0% in the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after acquiring an additional 31,807 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Prudential Financial by 6.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 406,295 shares of the financial services provider’s stock valued at $47,699,000 after acquiring an additional 25,196 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRU shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Citigroup raised their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. UBS Group raised their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. TD Cowen started coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 target price for the company. Finally, Piper Sandler raised their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.85.

Prudential Financial Trading Up 6.3 %

Shares of NYSE:PRU opened at $127.73 on Thursday. The firm has a fifty day moving average of $121.38 and a two-hundred day moving average of $118.62. The firm has a market capitalization of $45.47 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 0.86 and a beta of 1.29. Prudential Financial, Inc. has a 12-month low of $89.90 and a 12-month high of $129.13. 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 (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates 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 last year, the business posted $3.44 EPS. On average, equities analysts expect that Prudential Financial, Inc. will post 13.32 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s payout ratio is presently 46.22%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

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.