Amundi Acquires 216,119 Shares of Prudential Financial, Inc. $PRU

Key Points

• Amundi increased its holdings in Prudential Financial by 14.1%, owning 1,751,633 shares valued at approximately $183.57 million as of the latest SEC filing.
• Prudential Financial reported $3.58 earnings per share for the most recent quarter, surpassing expectations and showing a 2.5% decrease in quarterly revenue compared to the previous year.
• Prudential Financial has announced a dividend of $1.35 per share, yielding 5.0% annually, with a high dividend payout ratio of 119.73%.

Amundi raised its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 14.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,751,633 shares of the financial services provider's stock after purchasing an additional 216,119 shares during the period. Amundi owned about 0.49% of Prudential Financial worth $183,571,000 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. Meeder Asset Management Inc. lifted its holdings in Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 111 shares in the last quarter. Cheviot Value Management LLC purchased a new position in shares of Prudential Financial in the 1st quarter valued at $26,000. North Capital Inc. acquired a new position in shares of Prudential Financial during the 1st quarter valued at $28,000. AlphaQuest LLC boosted its position in Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock worth $28,000 after purchasing an additional 245 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in Prudential Financial in the first quarter valued at about $30,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated Friday, August 29th. The stock was 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 directly owned 21,506 shares in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of Prudential Financial stock in a transaction dated 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 acquisition, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company's stock.

Prudential Financial Stock Performance

NYSE PRU traded up $0.17 during trading hours on Monday, hitting $105.88. The company had a trading volume of 1,418,123 shares, compared to its average volume of 1,760,790. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $105.88 and a 200-day simple moving average of $105.61. The firm has a market cap of $37.27 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 0.94 and a beta of 1.07.

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 last year, the company earned $3.39 earnings per share. Equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, August 19th. Prudential Financial's payout ratio is 119.73%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target 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 for the company in a research note on Wednesday, July 16th. 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 research note on Tuesday, May 27th. JPMorgan Chase & Co. increased their target price on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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.