Blueshift Asset Management LLC Invests $286,000 in Prudential Financial, Inc. (NYSE:PRU)

Key Points

• Blueshift Asset Management LLC has acquired a new position in Prudential Financial, purchasing 2,563 shares valued at approximately $286,000.
• Institutional investors collectively own 56.83% of Prudential Financial's stock, with Northern Trust Corp increasing its holdings by 23.7% in the fourth quarter alone.
• Prudential Financial reported a Q2 EPS of $3.58, exceeding expectations, alongside a quarterly revenue drop of 2.5% compared to the prior year.

Blueshift Asset Management LLC acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,563 shares of the financial services provider's stock, valued at approximately $286,000.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its stake 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 during the last quarter. North Capital Inc. acquired a new stake in Prudential Financial in the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new stake in Prudential Financial in the 1st quarter valued at about $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Prudential Financial in the 4th quarter valued at about $38,000. Finally, Park Place Capital Corp lifted its stake in Prudential Financial by 1,841.2% in the 1st quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 313 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PRU shares. Barclays raised their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Piper Sandler cut their target price on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Wells Fargo & Company lowered their price target on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley lowered their price target on shares of Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating on the stock in a report on Monday, July 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $121.75.

Prudential Financial Stock Performance

Shares of PRU traded up $0.90 during mid-day trading on Tuesday, hitting $102.63. 110,175 shares of the company's stock were exchanged, compared to its average volume of 1,775,494. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The stock's 50-day simple moving average is $104.89 and its 200-day simple moving average is $107.12. The firm has a market cap of $36.33 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

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

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the purchase, the insider directly owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. The trade was a 112.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by company insiders.

Prudential Financial 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.