Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 12.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,769 shares of the financial services provider’s stock after buying an additional 11,964 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Prudential Financial were worth $9,000,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Wealthfront Advisers LLC grew its position in shares of Prudential Financial by 7.3% during the 1st quarter. Wealthfront Advisers LLC now owns 68,271 shares of the financial services provider’s stock worth $5,649,000 after buying an additional 4,653 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of Prudential Financial by 3.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 13,379 shares of the financial services provider’s stock worth $1,331,000 after buying an additional 398 shares during the period. Parallel Advisors LLC grew its position in shares of Prudential Financial by 3.0% in the 1st quarter. Parallel Advisors LLC now owns 5,411 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 156 shares during the period. Pinebridge Investments L.P. acquired a new position in shares of Prudential Financial in the 4th quarter valued at approximately $123,000. Finally, Commerce Bank grew its position in shares of Prudential Financial by 1.2% in the 4th quarter. Commerce Bank now owns 13,182 shares of the financial services provider’s stock valued at $1,311,000 after purchasing an additional 161 shares during the period. 55.36% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently issued reports on PRU. Morgan Stanley reiterated an “equal weight” rating and issued a $102.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 2nd. TheStreet upgraded Prudential Financial from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. VNET Group reiterated a “maintains” rating on shares of Prudential Financial in a research report on Monday, May 15th. Piper Sandler boosted their target price on Prudential Financial from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Finally, Royal Bank of Canada boosted their target price on Prudential Financial from $94.00 to $100.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.33.
Prudential Financial Trading Up 1.7 %
NYSE PRU opened at $98.13 on Tuesday. The company has a market cap of $35.82 billion, a PE ratio of 32.71, a PEG ratio of 0.77 and a beta of 1.40. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.64. Prudential Financial, Inc. has a 12 month low of $75.37 and a 12 month high of $110.96. The stock has a 50 day moving average of $89.05 and a 200-day moving average of $89.40.
Prudential Financial (NYSE:PRU – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $2.94 EPS for the quarter, missing the consensus estimate of $3.04 by ($0.10). Prudential Financial had a net margin of 1.82% and a return on equity of 15.73%. The company had revenue of $12.64 billion during the quarter, compared to analyst estimates of $12.68 billion. During the same period in the previous year, the company posted $1.74 EPS. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 11.79 EPS for the current fiscal year.
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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.
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