MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in Prudential Financial, Inc. (NYSE:PRU)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 38.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 89,280 shares of the financial services provider’s stock after purchasing an additional 24,801 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Prudential Financial were worth $10,580,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PRU. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% in the fourth 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 period. Centricity Wealth Management LLC acquired a new position in shares of Prudential Financial in the fourth quarter worth about $29,000. CGC Financial Services LLC raised its position in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares during the period. Wingate Wealth Advisors Inc. acquired a new position in shares of Prudential Financial in the fourth quarter worth about $33,000. Finally, Hopwood Financial Services Inc. acquired a new position in shares of Prudential Financial in the fourth quarter worth about $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 0.3%

PRU stock opened at $107.37 on Friday. The company has a market cap of $38.01 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 0.98 and a beta of 1.07. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The firm has a 50-day moving average of $104.71 and a two-hundred day moving average of $114.06.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Prudential Financial’s quarterly revenue was down 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.12 EPS. As a group, analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.03%. Prudential Financial’s dividend payout ratio (DPR) is 85.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRU. Morgan Stanley decreased their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Piper Sandler decreased their price target on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. UBS Group decreased their price target on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Barclays decreased their price target on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average target price of $121.92.

Insider Activity

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This represents a 18.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Company Profile

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.