9,442 Shares in Prudential Financial, Inc. (NYSE:PRU) Bought by iSAM Funds UK Ltd

iSAM Funds UK Ltd purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) in the 4th quarter, HoldingsChannel reports. The fund purchased 9,442 shares of the financial services provider’s stock, valued at approximately $1,119,000. Prudential Financial makes up 0.8% of iSAM Funds UK Ltd’s holdings, making the stock its 22nd largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new stake in Prudential Financial in the fourth quarter valued at approximately $115,878,000. Northern Trust Corp lifted its position in shares of Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock worth $555,513,000 after purchasing an additional 897,916 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Prudential Financial in the 4th quarter valued at $76,303,000. Marshall Wace LLP increased its position in shares of Prudential Financial by 322.9% during the fourth quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider’s stock worth $84,287,000 after buying an additional 542,964 shares during the period. Finally, Amundi increased its position in shares of Prudential Financial by 32.7% during the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider’s stock worth $181,851,000 after buying an additional 378,266 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. This 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 Stock Performance

NYSE PRU opened at $108.00 on Tuesday. The company has a market cap of $38.23 billion, a P/E ratio of 14.46, a PEG ratio of 0.98 and a beta of 1.07. The company has a fifty day simple moving average of $104.75 and a 200 day simple moving average of $113.82. 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.

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

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Tuesday, May 20th. Prudential Financial’s dividend payout ratio is currently 85.58%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PRU shares. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. UBS Group cut their target price on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler lowered their target price on Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Barclays dropped their price target on 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 reduced their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $121.08.

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.