Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 17.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,870 shares of the financial services provider's stock after purchasing an additional 15,927 shares during the quarter. Brookstone Capital Management's holdings in Prudential Financial were worth $11,824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position 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 valued at $436,000 after buying an additional 133 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Prudential Financial by 52.7% during the 4th quarter. Fisher Asset Management LLC now owns 3,619 shares of the financial services provider's stock valued at $429,000 after acquiring an additional 1,249 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Prudential Financial by 2.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 40,478 shares of the financial services provider's stock valued at $4,798,000 after acquiring an additional 1,133 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Prudential Financial by 59.5% in the fourth quarter. Victory Capital Management Inc. now owns 572,110 shares of the financial services provider's stock worth $67,812,000 after acquiring an additional 213,505 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Prudential Financial by 64.0% during the fourth quarter. Assetmark Inc. now owns 1,684 shares of the financial services provider's stock worth $200,000 after purchasing an additional 657 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRU shares. Piper Sandler cut their price target on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Barclays decreased their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. UBS Group dropped their price target on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Morgan Stanley lifted their price objective on shares of Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company increased their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has an average rating of "Hold" and an average target price of $120.15.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the acquisition, the insider owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company's stock.

Prudential Financial Trading Up 0.9%

NYSE PRU traded up $0.94 on Friday, reaching $109.60. 732,327 shares of the company were exchanged, compared to its average volume of 1,658,006. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.65. The business's fifty day moving average price is $104.87 and its 200 day moving average price is $109.30. The stock has a market capitalization of $38.80 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55.

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

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) 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.