Knights of Columbus Asset Advisors LLC Increases Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Knights of Columbus Asset Advisors LLC grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,313 shares of the financial services provider’s stock after buying an additional 1,618 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Prudential Financial were worth $7,386,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PRU. Glenmede Trust Co. NA boosted its position in Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after purchasing an additional 1,234 shares during the period. Avanza Fonder AB purchased a new stake in Prudential Financial during the 4th quarter worth $3,423,000. Gateway Investment Advisers LLC boosted its position in Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after purchasing an additional 7,907 shares during the period. Principal Financial Group Inc. boosted its position in Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Prudential Financial by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after purchasing an additional 1,765 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $110.35 on Friday. The firm has a market cap of $39.51 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55. The firm’s 50-day simple moving average is $113.57 and its 200-day simple moving average is $119.05. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.89%. Prudential Financial’s dividend payout ratio is 72.29%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRU shares. Wells Fargo & Company upped their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Barclays upped their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. BMO Capital Markets began coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. Piper Sandler decreased their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Morgan Stanley decreased their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $126.15.

Prudential Financial 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.