Ameriprise Financial Inc. Has $201.20 Million Stock Position in Prudential Financial, Inc. $PRU

Key Points

• Ameriprise Financial Inc. increased its stake in Prudential Financial by 5.6% during the 1st quarter, owning 1,801,551 shares valued at $201.20 million by the end of the reporting period.
• Prudential Financial announced a quarterly dividend of $1.35 per share, with an annual yield of 4.9%, and a dividend payout ratio of 119.73%.
• Prudential Financial's most recent earnings report revealed an EPS of $3.58, exceeding analyst expectations and showing a 2.5% decrease in revenue compared to the same quarter last year.

Ameriprise Financial Inc. grew its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,801,551 shares of the financial services provider's stock after buying an additional 95,021 shares during the period. Ameriprise Financial Inc. owned 0.51% of Prudential Financial worth $201,201,000 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 PRU. Bragg Financial Advisors Inc grew its stake in shares of Prudential Financial by 4.7% during the first quarter. Bragg Financial Advisors Inc now owns 95,530 shares of the financial services provider's stock worth $10,669,000 after purchasing an additional 4,280 shares during the period. Norinchukin Bank The grew its stake in shares of Prudential Financial by 15.4% during the first quarter. Norinchukin Bank The now owns 19,053 shares of the financial services provider's stock worth $2,128,000 after purchasing an additional 2,547 shares during the period. CW Advisors LLC grew its stake in shares of Prudential Financial by 172.4% during the first quarter. CW Advisors LLC now owns 8,831 shares of the financial services provider's stock worth $991,000 after purchasing an additional 5,589 shares during the period. Summit Financial LLC grew its stake in shares of Prudential Financial by 65.7% during the first quarter. Summit Financial LLC now owns 7,949 shares of the financial services provider's stock worth $888,000 after purchasing an additional 3,151 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Prudential Financial by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 519,831 shares of the financial services provider's stock worth $58,056,000 after purchasing an additional 5,129 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the transaction, the insider directly owned 3,168,461 shares in the company, valued at $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

Prudential Financial Stock Performance

PRU stock opened at $109.80 on Friday. The firm has a market cap of $38.65 billion, a PE ratio of 24.35, a P/E/G ratio of 0.98 and a beta of 1.07. The business's 50-day moving average price is $105.21 and its two-hundred day moving average price is $105.88. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

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

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Tuesday, August 19th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.9%. The ex-dividend date is Tuesday, August 19th. Prudential Financial's dividend payout ratio is presently 119.73%.

Analyst Ratings Changes

A number of brokerages recently commented on PRU. JPMorgan Chase & Co. lifted their price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods decreased their price objective on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley lifted their target price on Prudential Financial from $113.00 to $117.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Piper Sandler reduced their target price on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Finally, Wells Fargo & Company reduced their target price on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $122.08.

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.

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