Corient Private Wealth LLC Grows Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Corient Private Wealth LLC lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,111 shares of the financial services provider’s stock after purchasing an additional 3,089 shares during the quarter. Corient Private Wealth LLC’s holdings in Prudential Financial were worth $9,345,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in Prudential Financial by 9,281.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after purchasing an additional 1,354,248 shares during the last quarter. Norges Bank purchased a new stake in Prudential Financial during the 4th quarter valued at about $113,478,000. Dimensional Fund Advisors LP increased its stake in Prudential Financial by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after purchasing an additional 388,363 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Prudential Financial in the third quarter valued at approximately $34,251,000. Finally, abrdn plc boosted its stake in shares of Prudential Financial by 37.5% during the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock valued at $114,829,000 after purchasing an additional 302,164 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRU has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, February 12th. TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Piper Sandler cut their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $121.00 to $143.00 in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $115.25.

Prudential Financial Stock Up 1.3 %

Shares of NYSE:PRU opened at $119.36 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 52-week low of $78.40 and a 52-week high of $121.39. The firm has a market capitalization of $42.85 billion, a P/E ratio of 20.30, a P/E/G ratio of 0.89 and a beta of 1.35. The stock has a 50 day moving average price of $114.68 and a 200-day moving average price of $107.23.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion during the quarter, compared to the consensus estimate of $14.50 billion. During the same quarter last year, the company posted $2.66 EPS. Prudential Financial’s revenue for the quarter was up 69.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.4 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.36%. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Insiders Place Their Bets

In other news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,536 shares of company stock worth $19,245,606. 0.31% of the stock is currently 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.