Acadian Asset Management LLC Has $12.22 Million Stake in Prudential Financial, Inc. $PRU

Key Points

• Acadian Asset Management LLC increased its stake in Prudential Financial, Inc. to 109,447 shares, valued at approximately $12.22 million, after acquiring an additional 3,183 shares in the first quarter.
• Prudential Financial announced a quarterly dividend of $1.35 per share, yielding 5.0%, with a reported dividend payout ratio of 119.73%.
• Recent earnings results showed Prudential Financial beating estimates with an EPS of $3.58, and total revenue of $13.50 billion for the last quarter.

Acadian Asset Management LLC lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,447 shares of the financial services provider's stock after acquiring an additional 3,183 shares during the period. Acadian Asset Management LLC's holdings in Prudential Financial were worth $12,217,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Prudential Financial by 11,280.3% during the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after purchasing an additional 860,239 shares during the last quarter. Nuveen LLC purchased a new position in Prudential Financial during the first quarter worth about $90,010,000. Goldman Sachs Group Inc. boosted its holdings in Prudential Financial by 19.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after purchasing an additional 678,028 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Prudential Financial by 11.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock worth $404,230,000 after purchasing an additional 352,335 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Prudential Financial during the fourth quarter worth about $25,796,000. 56.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares of the company's stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the company's stock in a transaction on Monday, June 16th. The shares were purchased at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the transaction, the insider directly owned 3,168,461 shares in the company, valued at $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company's stock.

Prudential Financial Price Performance

PRU stock opened at $107.04 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The firm's fifty day moving average is $105.67 and its 200 day moving average is $105.56. The firm has a market cap of $37.68 billion, a P/E ratio of 23.73, a P/E/G ratio of 0.94 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. During the same quarter last year, the firm earned $3.39 EPS. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.0%. Prudential Financial's dividend payout ratio is presently 119.73%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PRU. Wells Fargo & Company dropped their target price on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 16th. Piper Sandler dropped their target price on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group dropped their price target on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $122.08.

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 Life, and International Businesses segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.