Natixis Advisors L.P. Increases Stake in Prudential Financial, Inc. (NYSE:PRU)

Natixis Advisors L.P. grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,818 shares of the financial services provider’s stock after purchasing an additional 17,210 shares during the period. Natixis Advisors L.P.’s holdings in Prudential Financial were worth $11,907,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cambridge Trust Co. increased its holdings in Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Prudential Financial during the 4th quarter worth approximately $26,000. Headinvest LLC acquired a new stake in Prudential Financial in the 3rd quarter valued at $27,000. Arlington Trust Co LLC increased its holdings in Prudential Financial by 151.6% in the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 185 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE purchased a new position in Prudential Financial during the third quarter valued at $39,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 0.8 %

Shares of Prudential Financial stock opened at $116.23 on Wednesday. Prudential Financial, Inc. has a fifty-two week low of $77.87 and a fifty-two week high of $118.69. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $41.73 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 0.83 and a beta of 1.35. The stock has a 50 day moving average of $112.48 and a 200 day moving average of $104.78.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. During the same period in the previous year, the company earned $2.66 EPS. The company’s quarterly revenue was up 69.9% compared to the same quarter last year. As a group, research analysts predict that Prudential Financial, Inc. will post 13.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.47%. Prudential Financial’s payout ratio is 88.44%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PRU. Morgan Stanley boosted their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Wells Fargo & Company increased their target price on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Piper Sandler lowered their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday. Raymond James lowered Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Finally, UBS Group increased their target price on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $111.08.

Insider Transactions at Prudential Financial

In related news, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the sale, the senior vice president now owns 7,901 shares in the company, valued at approximately $883,805.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the sale, the executive vice president now directly owns 24,381 shares in the company, valued at $2,642,656.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at $883,805.86. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock worth $3,215,664 over the last ninety days. Company insiders own 0.34% of the company’s stock.

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.