Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by AE Wealth Management LLC

AE Wealth Management LLC increased its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,245 shares of the financial services provider's stock after purchasing an additional 7,820 shares during the quarter. AE Wealth Management LLC's holdings in Prudential Financial were worth $18,343,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. North Capital Inc. bought a new position in Prudential Financial in the first quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new stake in Prudential Financial during the first quarter valued at approximately $30,000. Park Place Capital Corp grew its holdings in Prudential Financial by 1,841.2% in the first quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock worth $37,000 after purchasing an additional 313 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter valued at $38,000. Finally, Rossby Financial LCC purchased a new position in Prudential Financial during the 1st quarter worth $39,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

NYSE PRU traded down $0.99 during mid-day trading on Thursday, reaching $104.36. 1,285,422 shares of the stock were exchanged, compared to its average volume of 1,393,040. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.17 and a current ratio of 0.17. The business's 50 day moving average is $105.08 and its 200-day moving average is $108.00. The company has a market capitalization of $36.94 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.04 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same quarter last year, the firm posted $3.12 EPS. The business's revenue was down 38.2% on a year-over-year basis. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.17%. Prudential Financial's dividend payout ratio is presently 85.58%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the acquisition, the insider owned 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. The trade was a 112.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Prudential Financial from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. JPMorgan Chase & Co. boosted their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Piper Sandler lowered their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. UBS Group dropped their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Finally, Barclays lifted their price target on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $121.75.

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.