Point72 Asia Singapore Pte. Ltd. Takes $691,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,709 shares of the financial services provider’s stock, valued at approximately $691,000.

Other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. lifted its stake in shares of Prudential Financial by 4.3% in the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock worth $19,701,000 after buying an additional 6,641 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Prudential Financial in the second quarter worth about $156,000. PGGM Investments lifted its stake in shares of Prudential Financial by 98.0% in the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after buying an additional 31,807 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Prudential Financial by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock worth $370,327,000 after buying an additional 47,561 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in Prudential Financial during the second quarter worth about $530,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on PRU shares. UBS Group lifted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. TD Cowen lifted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Bank of America lifted their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays boosted their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley reduced their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average target price of $125.92.

Insiders Place Their Bets

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the company’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 completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Trading Down 0.1 %

Shares of PRU stock opened at $129.41 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market capitalization of $46.07 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.29. The company has a 50 day moving average price of $124.24 and a 200 day moving average price of $120.12. Prudential Financial, Inc. has a fifty-two week low of $96.45 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the business posted $3.44 earnings per share. Equities research analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.02%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

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.