Bailard Inc. Has $664,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Bailard Inc. lowered its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 52.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,950 shares of the financial services provider's stock after selling 6,451 shares during the quarter. Bailard Inc.'s holdings in Prudential Financial were worth $664,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of PRU. Brighton Jones LLC boosted its stake in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock worth $436,000 after purchasing an additional 133 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Prudential Financial during the fourth quarter valued at $253,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Prudential Financial by 15.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 14,861 shares of the financial services provider's stock valued at $1,761,000 after acquiring an additional 1,948 shares during the period. iA Global Asset Management Inc. lifted its stake in shares of Prudential Financial by 291.5% during the fourth quarter. iA Global Asset Management Inc. now owns 6,809 shares of the financial services provider's stock valued at $807,000 after acquiring an additional 5,070 shares during the period. Finally, Whittier Trust Co. lifted its stake in shares of Prudential Financial by 8.2% during the fourth quarter. Whittier Trust Co. now owns 4,140 shares of the financial services provider's stock valued at $491,000 after acquiring an additional 314 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen lowered Prudential Financial from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. UBS Group lowered their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Piper Sandler lowered their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday. Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Finally, Morgan Stanley lowered their price target on Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating for the company in a report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $121.62.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were bought at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the purchase, the insider owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Stock Performance

PRU opened at $103.31 on Friday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The stock has a market cap of $36.57 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.02 and a beta of 1.07. The business has a 50 day moving average of $105.31 and a 200-day moving average of $108.33. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.11. The business had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The firm's revenue for the quarter was down 38.2% compared to the same quarter last year. During the same period last year, the firm posted $3.12 EPS. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were issued a $1.35 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.23%. Prudential Financial's dividend payout ratio is presently 85.58%.

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.

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