Prudential Financial, Inc. (NYSE:PRU) Stock Position Lifted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,058,028 shares of the financial services provider’s stock after purchasing an additional 47,561 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.86% of Prudential Financial worth $370,327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new position in Prudential Financial during the second quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new position in Prudential Financial during the third quarter valued at approximately $31,000. Bank & Trust Co purchased a new position in Prudential Financial during the second quarter valued at approximately $37,000. Hobbs Group Advisors LLC purchased a new position in Prudential Financial during the second quarter valued at approximately $38,000. Finally, Tompkins Financial Corp grew its position in Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 140 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on PRU. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Piper Sandler boosted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley decreased their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.92.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $129.52 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial, Inc. has a fifty-two week low of $95.10 and a fifty-two week high of $130.55. The firm has a fifty day moving average price of $124.08 and a two-hundred day moving average price of $120.03. The company has a market cap of $46.11 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.93 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating 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 period in the prior year, the firm earned $3.44 EPS. Analysts expect that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

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.