Mitsubishi UFJ Asset Management Co. Ltd. Buys 29,720 Shares of Prudential Financial, Inc. $PRU

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 4.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 735,934 shares of the financial services provider’s stock after acquiring an additional 29,720 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Prudential Financial were worth $83,801,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PRU. Salomon & Ludwin LLC increased its holdings in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 114 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Prudential Financial in the fourth quarter valued at approximately $28,000. Wealth Watch Advisors INC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $30,000. Dunhill Financial LLC increased its stake in shares of Prudential Financial by 982.8% in the 4th quarter. Dunhill Financial LLC now owns 314 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 285 shares in the last quarter. Finally, Chilton Capital Management LLC increased its stake in shares of Prudential Financial by 146.5% in the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 208 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Key Prudential Financial News

Here are the key news stories impacting Prudential Financial this week:

Prudential Financial Stock Down 0.7%

Shares of NYSE:PRU opened at $99.48 on Friday. The stock has a market cap of $34.60 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.81 and a beta of 0.86. 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 $91.89 and a 12-month high of $119.76. The business’s 50 day moving average is $96.87 and its 200 day moving average is $104.57.

Prudential Financial (NYSE:PRUGet Free Report) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.52. The company had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the previous year, the firm earned $3.29 earnings per share. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 13.66 earnings per share for the current fiscal year.

Insider Activity at Prudential Financial

In related news, Director Thomas D. Stoddard bought 250 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average price of $102.97 per share, with a total value of $25,742.50. Following the completion of the transaction, the director directly owned 250 shares in the company, valued at approximately $25,742.50. This represents 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 link. Also, Director Joseph J. Wolk bought 400 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were bought at an average cost of $105.32 per share, for a total transaction of $42,128.00. Following the transaction, the director owned 400 shares of the company’s stock, valued at $42,128. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.05% of the stock is owned by insiders.

Analyst Ratings Changes

PRU has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on shares of Prudential Financial from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Tuesday. Evercore restated a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Morgan Stanley restated an “underweight” rating and issued a $92.00 price target (down from $106.00) on shares of Prudential Financial in a report on Monday. UBS Group reduced their price target on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Finally, Mizuho raised their price target on shares of Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a report on Thursday. Nine equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, Prudential Financial has an average rating of “Reduce” and an average target price of $99.92.

Get Our Latest Stock Analysis on PRU

Prudential Financial Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRUFree Report).

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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