Capital Investment Advisory Services LLC Reduces Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Capital Investment Advisory Services LLC lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 47.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,838 shares of the financial services provider's stock after selling 2,612 shares during the period. Capital Investment Advisory Services LLC's holdings in Prudential Financial were worth $317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PRU. Norges Bank purchased a new stake in shares of Prudential Financial in the 4th quarter worth about $115,878,000. Northern Trust Corp lifted its position in shares of Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after purchasing an additional 897,916 shares during the period. GAMMA Investing LLC lifted its position in shares of Prudential Financial by 11,280.3% in the 1st quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after purchasing an additional 860,239 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Prudential Financial in the 4th quarter worth about $76,303,000. Finally, Marshall Wace LLP lifted its position in shares of Prudential Financial by 322.9% in the 4th quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider's stock worth $84,287,000 after purchasing an additional 542,964 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Down 2.4%

PRU opened at $106.48 on Tuesday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average price of $104.93 and a 200-day moving average price of $109.14. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The stock has a market capitalization of $37.69 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.04 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $14.76 billion. During the same period in the previous year, the company earned $3.12 earnings per share. The firm's quarterly revenue was down 38.2% on a year-over-year basis. Equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were issued 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 5.07%. Prudential Financial's payout ratio is 85.58%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Piper Sandler dropped their target price on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Barclays lifted their price target on shares of Prudential Financial from $109.00 to $119.00 and gave the company an "equal weight" rating in a research report on Monday. Wall Street Zen cut shares of Prudential Financial from a "hold" rating to a "sell" rating in a research report on Saturday. Morgan Stanley lifted 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. Finally, JPMorgan Chase & Co. lowered their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Two investment 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, Prudential Financial has an average rating of "Hold" and an average price target of $121.15.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the transaction, the insider owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. This represents a 112.29% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.