Asset Management One Co. Ltd. Buys 12,439 Shares of Prudential Financial, Inc. (NYSE:PRU)

Asset Management One Co. Ltd. increased its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 175,194 shares of the financial services provider's stock after buying an additional 12,439 shares during the period. Asset Management One Co. Ltd.'s holdings in Prudential Financial were worth $19,566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its holdings in 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 worth $279,000 after buying an additional 222 shares during the period. Bridgewater Associates LP boosted its holdings in Prudential Financial by 41.8% in the 4th quarter. Bridgewater Associates LP now owns 388,349 shares of the financial services provider's stock worth $46,031,000 after buying an additional 114,459 shares during the period. Sound Income Strategies LLC boosted its holdings in 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 worth $3,954,000 after buying an additional 2,913 shares during the period. Verity & Verity LLC boosted its holdings in Prudential Financial by 3.6% in the 1st quarter. Verity & Verity LLC now owns 189,321 shares of the financial services provider's stock worth $21,143,000 after buying an additional 6,620 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Prudential Financial by 3.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 79,888 shares of the financial services provider's stock worth $8,922,000 after buying an additional 2,623 shares during the period. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. Barclays cut their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. cut their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company raised their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, UBS Group cut their price target on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $120.15.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the business's stock in a transaction on Monday, June 16th. The shares were acquired at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the acquisition, the insider now directly owns 3,168,461 shares in the company, valued at approximately $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Stock Performance

Prudential Financial stock opened at $105.63 on Thursday. The stock has a market cap of $37.39 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.02 and a beta of 1.07. The firm's fifty day moving average price is $103.79 and its 200-day moving average price is $109.89. 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 debt-to-equity ratio of 0.65, a quick ratio of 0.17 and a current ratio of 0.17.

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, topping analysts' consensus estimates of $3.18 by $0.11. The company had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The firm's revenue was down 38.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.12 EPS. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial's payout ratio is presently 85.58%.

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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