Cornerstone Wealth Group LLC raised its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 58,437 shares of the financial services provider's stock after purchasing an additional 2,331 shares during the quarter. Cornerstone Wealth Group LLC's holdings in Prudential Financial were worth $6,927,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock worth $2,059,549,000 after buying an additional 49,830 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after acquiring an additional 341,787 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Prudential Financial by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock valued at $415,134,000 after purchasing an additional 305,143 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Prudential Financial by 1.6% during 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 purchasing an additional 47,561 shares during the period. Finally, FMR LLC increased its holdings in Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock worth $174,903,000 after purchasing an additional 344,254 shares in the last quarter. Institutional investors own 56.83% of the company's stock.
Shares of PRU stock opened at $117.22 on Monday. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55. The company has a market cap of $41.73 billion, a P/E ratio of 10.42, a P/E/G ratio of 1.09 and a beta of 1.31. The firm has a 50-day moving average of $121.29 and a 200-day moving average of $120.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.
Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm 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 quarter last year, the firm earned $3.44 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.44%. Prudential Financial's dividend payout ratio (DPR) is presently 46.22%.
In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company's stock.
PRU has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Wells Fargo & Company dropped their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 14th. Evercore ISI upgraded Prudential Financial from an "underperform" rating to an "inline" rating and raised their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. TD Cowen increased their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. Finally, Bank of America boosted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Prudential Financial has a consensus rating of "Hold" and an average target price of $125.31.
Read Our Latest Report on PRU
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.
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