UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $370.33 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,058,028 shares of the financial services provider’s stock after acquiring an additional 47,561 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Prudential Financial were worth $370,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Annex Advisory Services LLC increased its position in Prudential Financial by 3.4% in the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 81 shares in the last quarter. Raymond James Trust N.A. grew its position in shares of Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after buying an additional 87 shares during the period. Avidian Wealth Enterprises LLC grew its position in shares of Prudential Financial by 1.2% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after buying an additional 89 shares during the period. Quotient Wealth Partners LLC grew its position in shares of Prudential Financial by 3.9% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after buying an additional 92 shares during the period. Finally, Daymark Wealth Partners LLC grew its position in shares of Prudential Financial by 3.9% during the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock worth $317,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU opened at $129.52 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial, Inc. has a twelve month low of $95.10 and a twelve month high of $130.55. The firm’s 50 day moving average price is $124.08 and its two-hundred day moving average price is $120.03. The firm has a market cap of $46.11 billion, a P/E ratio of 11.51, a PEG ratio of 0.93 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last announced 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. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the firm posted $3.44 earnings per share. On average, analysts forecast that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently commented on PRU. Bank of America lifted their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price target 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. TD Cowen lifted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.92.

Insider Buying and Selling at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

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.