Mirae Asset Global Investments Co. Ltd. Has $3.56 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 21.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,489 shares of the financial services provider’s stock after buying an additional 5,129 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Prudential Financial were worth $3,563,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Annex Advisory Services LLC lifted its holdings in shares of Prudential Financial by 3.4% during the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 81 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Prudential Financial by 1.1% during the second quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after acquiring an additional 87 shares during the period. Peoples Bank OH lifted its holdings in shares of Prudential Financial by 2.3% during the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 90 shares during the period. Quotient Wealth Partners LLC lifted its holdings in shares of Prudential Financial by 3.9% during the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 92 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Prudential Financial by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Argus raised Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Bank of America lifted their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their price target on Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. TD Cowen initiated coverage on Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target for the company. Finally, Morgan Stanley cut their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.69.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $125.27 on Wednesday. The stock has a market capitalization of $44.72 billion, a P/E ratio of 16.10, a P/E/G ratio of 0.94 and a beta of 1.30. Prudential Financial, Inc. has a 1-year low of $89.09 and a 1-year high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $120.63 and a two-hundred day moving average price of $118.07.

Prudential Financial (NYSE:PRU) last posted its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Equities analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.15%. Prudential Financial’s payout ratio is currently 66.84%.

Insider Transactions at Prudential Financial

In related 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 completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.