AG2R LA Mondiale Gestion D Actifs Makes New $1.45 Million Investment in Prudential Financial, Inc. $PRU

Key Points

• AG2R LA Mondiale Gestion D Actifs invested approximately $1.45 million in Prudential Financial, purchasing 13,947 shares during the first quarter.
• Prudential Financial's recent earnings exceeded expectations, with an EPS of $3.58 compared to the consensus estimate of $3.22, but revenue fell 2.5% year-over-year.
• Analysts display mixed sentiments, with one "Buy" rating, nine "Hold" ratings, and one "Sell" rating, resulting in a consensus price target of $122.08.

AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,947 shares of the financial services provider's stock, valued at approximately $1,449,000.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Prudential Financial by 3.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider's stock worth $2,320,000 after buying an additional 721 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Prudential Financial by 728.4% in the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 743 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Prudential Financial by 68.2% in the 1st quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider's stock valued at $12,373,000 after purchasing an additional 44,937 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Prudential Financial by 9.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock valued at $279,000 after purchasing an additional 222 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of Prudential Financial by 9.0% in the 1st quarter. Sound Income Strategies LLC now owns 35,408 shares of the financial services provider's stock valued at $3,954,000 after purchasing an additional 2,913 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PRU. UBS Group reduced their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Morgan Stanley boosted their target price on Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler dropped their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. boosted their price target on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $122.08.

Prudential Financial Stock Performance

NYSE PRU opened at $106.94 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The business's 50 day moving average is $105.61 and its two-hundred day moving average is $105.49. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The stock has a market capitalization of $37.64 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 0.95 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The company had revenue of $13.50 billion for the quarter, compared to analysts' expectations of $13.47 billion. During the same quarter in the previous year, the firm posted $3.39 EPS. The firm's quarterly revenue was down 2.5% on a year-over-year basis. Research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced 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 was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.0%. Prudential Financial's payout ratio is presently 119.73%.

Insider Activity at Prudential Financial

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

Prudential Financial Company 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.