Czech National Bank Has $9.15 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Czech National Bank raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,188 shares of the financial services provider’s stock after buying an additional 4,464 shares during the quarter. Czech National Bank’s holdings in Prudential Financial were worth $9,149,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRU. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial in the third quarter valued at approximately $31,000. Quarry LP grew its position in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the period. Tompkins Financial Corp increased its stake in Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Prudential Financial by 235.4% during the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock worth $46,000 after buying an additional 266 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of Prudential Financial in the third quarter valued at $48,000. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Trading Up 1.2 %

NYSE:PRU opened at $117.66 on Wednesday. The firm’s 50 day moving average is $122.38 and its 200 day moving average is $120.67. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55. The stock has a market capitalization of $41.89 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the firm earned $3.44 EPS. Sell-side analysts expect that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.42%. Prudential Financial’s payout ratio is 46.22%.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares of the company’s stock, 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 SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

PRU has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price 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. TD Cowen raised their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Piper Sandler lifted their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America lifted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $127.00.

About Prudential Financial

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.