Cantor Fitzgerald Investment Advisors L.P. Has $11.53 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Cantor Fitzgerald Investment Advisors L.P. cut its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,193 shares of the financial services provider's stock after selling 20,785 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Prudential Financial were worth $11,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Proathlete Wealth Management LLC bought a new stake in shares of Prudential Financial in the 1st quarter worth approximately $49,000. Abundance Wealth Counselors increased its holdings in shares of Prudential Financial by 8.3% in the first quarter. Abundance Wealth Counselors now owns 18,482 shares of the financial services provider's stock valued at $2,064,000 after buying an additional 1,409 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Prudential Financial by 25.6% during the 1st quarter. Avior Wealth Management LLC now owns 10,362 shares of the financial services provider's stock valued at $1,157,000 after acquiring an additional 2,112 shares during the last quarter. Centennial Wealth Advisory LLC boosted its stake in shares of Prudential Financial by 10.3% during the 1st quarter. Centennial Wealth Advisory LLC now owns 4,739 shares of the financial services provider's stock worth $529,000 after acquiring an additional 442 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Prudential Financial by 2.6% in the 1st quarter. Johnson Investment Counsel Inc. now owns 7,842 shares of the financial services provider's stock worth $876,000 after acquiring an additional 202 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the stock in a transaction dated 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 owns 3,168,461 shares in the company, valued at approximately $90,744,723.04. The trade was a 112.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Prudential Financial Stock Up 0.2%

PRU traded up $0.20 during trading on Friday, reaching $104.31. 2,639,210 shares of the stock traded hands, compared to its average volume of 1,653,531. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The stock's 50-day simple moving average is $103.33 and its two-hundred day simple moving average is $110.48. The stock has a market cap of $36.93 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 0.99 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating 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 quarterly revenue was down 38.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.12 EPS. As a group, equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS 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 dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.18%. Prudential Financial's dividend payout ratio (DPR) is 85.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PRU. UBS Group dropped their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Wells Fargo & Company lifted 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 report on Tuesday, May 6th. Morgan Stanley upped their price target on shares of Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. lowered their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Piper Sandler reduced their target price on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $120.15.

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.