Raiffeisen Bank International AG Has $8.87 Million Stock Position in Prudential Financial, Inc. $PRU

Raiffeisen Bank International AG increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 31.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,380 shares of the financial services provider’s stock after acquiring an additional 20,672 shares during the quarter. Raiffeisen Bank International AG’s holdings in Prudential Financial were worth $8,865,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. Chilton Capital Management LLC lifted its position in Prudential Financial by 146.5% during the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 208 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Prudential Financial during the second quarter worth approximately $36,000. AlphaCore Capital LLC acquired a new position in Prudential Financial in the second quarter valued at approximately $39,000. Capital A Wealth Management LLC boosted its stake in Prudential Financial by 4,600.0% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 368 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in Prudential Financial in the second quarter valued at about $51,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of Prudential Financial stock in a transaction that occurred on Friday, January 23rd. The stock was purchased at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the completion of the transaction, the insider owned 7,709,624 shares of the company’s stock, valued at approximately $191,738,348.88. This trade represents a 22.32% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph J. Wolk purchased 400 shares of the stock in a transaction on Wednesday, February 11th. The shares were bought at an average cost of $105.32 per share, for a total transaction of $42,128.00. Following the transaction, the director directly owned 400 shares in the company, valued at approximately $42,128. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 1,408,389 shares of company stock valued at $35,154,439 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PRU has been the topic of several recent analyst reports. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Mizuho lowered their price objective on shares of Prudential Financial from $126.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, February 10th. Piper Sandler lifted their target price on Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd. Evercore lowered their price target on Prudential Financial from $122.00 to $110.00 and set an “in-line” rating for the company in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. cut their price objective on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $117.11.

Prudential Financial Trading Up 0.7%

NYSE PRU opened at $103.48 on Friday. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The stock’s 50 day moving average price is $110.81 and its two-hundred day moving average price is $107.42. The stock has a market capitalization of $36.01 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 1.17 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The business had revenue of $15.69 billion during the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period in the prior year, the firm earned $2.96 EPS. As a group, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be given a $1.40 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, February 17th. Prudential Financial’s dividend payout ratio (DPR) is presently 56.00%.

About Prudential Financial

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.