Generali Asset Management SPA SGR Has $3.54 Million Stake in Prudential Financial, Inc. $PRU

Generali Asset Management SPA SGR raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 22.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,077 shares of the financial services provider’s stock after acquiring an additional 6,279 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Prudential Financial were worth $3,535,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. AlphaQuest LLC grew its stake in Prudential Financial by 12,250.0% during the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 245 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Prudential Financial during the 2nd quarter worth approximately $36,000. AlphaCore Capital LLC acquired a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $39,000. Capital A Wealth Management LLC increased its stake in shares of Prudential Financial by 4,600.0% in the 2nd 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 in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Prudential Financial during the 2nd quarter valued at $51,000. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Piper Sandler raised their price target on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd. Keefe, Bruyette & Woods boosted their target price on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a research note on Monday. Mizuho initiated coverage on Prudential Financial in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price objective for the company. Finally, Morgan Stanley upped their target price on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Eleven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $118.00.

Prudential Financial Stock Up 0.8%

Shares of NYSE:PRU opened at $113.84 on Friday. The business has a fifty day moving average price of $109.46 and a two-hundred day moving average price of $106.43. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $39.84 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $123.88.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The company had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. Analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

Insider Activity

In related news, SVP Timothy L. Schmidt sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total value of $861,520.00. Following the transaction, the senior vice president directly owned 11,535 shares in the company, valued at approximately $1,242,204.15. This represents a 40.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the sale, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 62,719 shares of company stock worth $6,796,067. 0.25% of the stock is currently owned by insiders.

Prudential Financial Profile

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.