Prudential Financial, Inc. (NYSE:PRU) Stock Holdings Lifted by Alps Advisors Inc.

Alps Advisors Inc. grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 10.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 222,654 shares of the financial services provider's stock after purchasing an additional 21,575 shares during the period. Alps Advisors Inc. owned approximately 0.06% of Prudential Financial worth $24,866,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new stake in shares of Prudential Financial in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Prudential Financial in the 1st quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Prudential Financial in the 4th quarter worth approximately $34,000. Lee Danner & Bass Inc. acquired a new stake in shares of Prudential Financial in the 4th quarter worth approximately $35,000. Finally, TCTC Holdings LLC acquired a new stake in shares of Prudential Financial in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley increased their target price on Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Piper Sandler reduced their price target on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company increased their price target on Prudential Financial from $113.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, UBS Group reduced their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $122.15.

Prudential Financial Stock Down 0.9%

Shares of NYSE PRU traded down $1.00 during midday trading on Friday, reaching $106.15. 691,802 shares of the company's stock were exchanged, compared to its average volume of 1,659,312. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The stock has a market capitalization of $37.58 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.02 and a beta of 1.07. 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 fifty day moving average price is $105.18 and its two-hundred day moving average price is $109.03.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 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 company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same period in the previous year, the firm posted $3.12 earnings per share. Prudential Financial's quarterly revenue was down 38.2% compared to the same quarter last year. Analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were given 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 5.09%. Prudential Financial's dividend payout ratio is presently 85.58%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the transaction, the insider owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This represents a 112.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.25% of the company's stock.

About Prudential Financial

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.