Universal Beteiligungs und Servicegesellschaft mbH Acquires 24,996 Shares of Prudential Financial, Inc. $PRU

Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 267,857 shares of the financial services provider’s stock after purchasing an additional 24,996 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Prudential Financial were worth $27,787,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRU. Norges Bank bought a new stake in shares of Prudential Financial in the 2nd quarter valued at about $122,778,000. Vanguard Group Inc. increased its stake in Prudential Financial by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock worth $4,566,432,000 after purchasing an additional 600,482 shares during the period. Nordea Investment Management AB lifted its position in Prudential Financial by 49.2% in the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after purchasing an additional 567,571 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Prudential Financial in the second quarter worth approximately $40,552,000. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Prudential Financial by 209.2% in the second quarter. Canada Pension Plan Investment Board now owns 520,025 shares of the financial services provider’s stock worth $55,871,000 after purchasing an additional 351,849 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Performance

Shares of PRU opened at $108.70 on Friday. The company has a 50-day simple moving average of $112.28 and a two-hundred day simple moving average of $107.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $38.05 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 0.93 and a beta of 0.97. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $123.88.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.72 by $0.54. The firm had revenue of $17.89 billion for the quarter, compared to the consensus estimate of $13.77 billion. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.During the same quarter in the prior year, the business earned $3.48 EPS. On average, analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 5.0%. Prudential Financial’s dividend payout ratio (DPR) is currently 74.18%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Morgan Stanley increased their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Mizuho assumed coverage on Prudential Financial in a report on Tuesday, December 16th. They set a “neutral” rating and a $125.00 price target on the stock. Evercore ISI increased their price objective on Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. Finally, Piper Sandler lifted their price objective on Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. One research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $120.78.

Insider Activity

In other news, EVP Caroline Feeney sold 6,555 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $116.28, for a total value of $762,215.40. Following the sale, the executive vice president directly owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This represents a 22.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy L. Schmidt sold 8,000 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total transaction of $861,520.00. Following the completion of the transaction, the senior vice president owned 11,535 shares of the company’s stock, valued at approximately $1,242,204.15. The trade was a 40.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 62,719 shares of company stock worth $6,796,067. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.