Prudential Financial, Inc. (NYSE:PRU) Stock Position Boosted by Algebris UK Ltd

Algebris UK Ltd lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 79.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 218,412 shares of the financial services provider’s stock after buying an additional 96,725 shares during the period. Prudential Financial makes up approximately 6.3% of Algebris UK Ltd’s portfolio, making the stock its 4th largest position. Algebris UK Ltd owned about 0.06% of Prudential Financial worth $24,951,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PRU. Vinva Investment Management Ltd raised its holdings in Prudential Financial by 13.2% in the 4th quarter. Vinva Investment Management Ltd now owns 18,742 shares of the financial services provider’s stock valued at $2,214,000 after buying an additional 2,186 shares during the period. Xponance Inc. increased its position in shares of Prudential Financial by 7.1% during the fourth quarter. Xponance Inc. now owns 54,424 shares of the financial services provider’s stock valued at $6,451,000 after acquiring an additional 3,589 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $6,445,000. Horizon Investments LLC lifted its holdings in shares of Prudential Financial by 1.7% in the 4th quarter. Horizon Investments LLC now owns 6,386 shares of the financial services provider’s stock worth $757,000 after acquiring an additional 107 shares during the last quarter. Finally, TCTC Holdings LLC purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the acquisition, the insider now owns 87,047 shares of the company’s stock, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on PRU. Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Piper Sandler lowered their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. TD Cowen raised their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley cut their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Price Performance

Shares of PRU opened at $109.65 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm’s fifty day simple moving average is $113.96 and its 200-day simple moving average is $119.24. The firm has a market capitalization of $39.25 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Prudential Financial 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.