Tokio Marine Asset Management Co. Ltd. Grows Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,703 shares of the financial services provider’s stock after acquiring an additional 673 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Prudential Financial were worth $1,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRU. Sei Investments Co. raised its stake in shares of Prudential Financial by 12.9% in the 1st quarter. Sei Investments Co. now owns 57,853 shares of the financial services provider’s stock valued at $6,791,000 after acquiring an additional 6,609 shares during the period. Kingsview Wealth Management LLC lifted its stake in Prudential Financial by 19.3% during the first quarter. Kingsview Wealth Management LLC now owns 6,910 shares of the financial services provider’s stock worth $811,000 after purchasing an additional 1,116 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of Prudential Financial by 4.0% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 5,910 shares of the financial services provider’s stock worth $694,000 after buying an additional 230 shares during the period. Nwam LLC acquired a new stake in shares of Prudential Financial in the first quarter valued at $209,000. Finally, Banco Santander S.A. acquired a new position in Prudential Financial during the 1st quarter worth about $555,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU stock opened at $127.41 on Friday. The stock’s 50-day moving average is $121.92 and its two-hundred day moving average is $119.11. 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 1 year low of $93.32 and a 1 year high of $129.13. The firm has a market cap of $45.36 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 0.89 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last issued 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. The company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the business earned $3.44 earnings per share. Analysts predict that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.08%. Prudential Financial’s dividend payout ratio is presently 46.22%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Wells Fargo & Company raised their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. TD Cowen assumed coverage on Prudential Financial in a research note on Wednesday, October 9th. They set a “hold” rating and a $130.00 target price for the company. Finally, Citigroup increased their price target on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average target price of $125.69.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 16.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.