Natixis Advisors LLC Boosts Stake in Prudential Financial, Inc. (NYSE:PRU)

Natixis Advisors LLC raised its position in Prudential Financial, Inc. (NYSE:PRU) by 6.3% during the third quarter, Holdings Channel reports. The firm owned 136,319 shares of the financial services provider’s stock after buying an additional 8,078 shares during the quarter. Natixis Advisors LLC’s holdings in Prudential Financial were worth $16,509,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PRU. Creekmur Asset Management LLC lifted its stake in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the second quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial in the third quarter valued at approximately $31,000. Crewe Advisors LLC purchased a new stake in Prudential Financial during the 1st quarter worth approximately $33,000. Finally, Bank & Trust Co purchased a new position in Prudential Financial in the 2nd quarter valued at approximately $37,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PRU shares. Wells Fargo & Company increased their price objective on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Argus upgraded Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays raised their target price on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Citigroup boosted their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $125.69.

Prudential Financial Trading Down 1.7 %

NYSE:PRU opened at $124.61 on Wednesday. The company has a market capitalization of $44.36 billion, a PE ratio of 11.08, a P/E/G ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a 52-week low of $93.32 and a 52-week high of $129.13. The stock’s 50 day moving average price is $122.67 and its 200 day moving average price is $119.53. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the company posted $3.44 EPS. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 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.