TD Asset Management Inc Has $31.52 Million Stake in Prudential Financial, Inc. $PRU

TD Asset Management Inc reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 22.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 303,834 shares of the financial services provider’s stock after selling 86,932 shares during the period. TD Asset Management Inc owned about 0.09% of Prudential Financial worth $31,520,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Global Investments boosted its position in Prudential Financial by 1.3% during the 2nd quarter. Summit Global Investments now owns 7,609 shares of the financial services provider’s stock worth $817,000 after acquiring an additional 100 shares during the last quarter. Woodward Diversified Capital LLC grew its position in Prudential Financial by 1.4% in the third quarter. Woodward Diversified Capital LLC now owns 7,662 shares of the financial services provider’s stock valued at $795,000 after purchasing an additional 103 shares in the last quarter. Pitcairn Co. increased its stake in Prudential Financial by 2.7% in the 2nd quarter. Pitcairn Co. now owns 3,973 shares of the financial services provider’s stock valued at $427,000 after buying an additional 104 shares during the last quarter. TIAA Trust National Association lifted its position in Prudential Financial by 2.7% during the 2nd quarter. TIAA Trust National Association now owns 4,142 shares of the financial services provider’s stock worth $445,000 after buying an additional 108 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC boosted its stake in shares of Prudential Financial by 20.5% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 642 shares of the financial services provider’s stock worth $67,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRU. Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Wells Fargo & Company downgraded Prudential Financial from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $115.00 to $103.00 in a report on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. dropped their price target on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Finally, Piper Sandler boosted their price objective on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $115.78.

Insider Activity at Prudential Financial

In related news, Director Joseph J. Wolk bought 400 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were acquired at an average cost of $105.32 per share, with a total value of $42,128.00. Following the completion of the purchase, the director directly owned 400 shares in the company, valued at $42,128. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas D. Stoddard acquired 250 shares of Prudential Financial stock in a transaction on Tuesday, February 17th. The stock was purchased at an average cost of $102.97 per share, with a total value of $25,742.50. Following the purchase, the director directly owned 250 shares of the company’s stock, valued at approximately $25,742.50. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 1,408,389 shares of company stock valued at $35,154,439 over the last 90 days. 0.25% of the stock is owned by company insiders.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $98.22 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $119.76. The firm has a market cap of $34.18 billion, a PE ratio of 9.82, a PEG ratio of 1.18 and a beta of 0.97. The company’s 50 day moving average price is $109.25 and its two-hundred day moving average price is $107.33.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The firm had revenue of $15.69 billion during the quarter, compared to the consensus estimate of $14.48 billion. During the same period last year, the business earned $2.96 earnings per share. Equities research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current 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 issued a $1.40 dividend. The ex-dividend date is Tuesday, February 17th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 annualized dividend and a yield of 5.7%. Prudential Financial’s dividend payout ratio (DPR) is currently 56.00%.

Prudential Financial Company 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.