Coordinated Financial Services Inc. CO Invests $317,000 in Prudential Financial, Inc. $PRU

Key Points

• Coordinated Financial Services Inc. has acquired 2,837 shares of Prudential Financial, Inc. valued at approximately $317,000 during the first quarter of the year.
• Major institutional investors such as Goldman Sachs and Invesco Ltd. have recently increased their stakes in Prudential Financial, with a total of 56.83% of the stock currently owned by hedge funds and other institutional investors.
• Prudential Financial declared a quarterly dividend of $1.35 per share, representing a yield of 5.1%, with a notable dividend payout ratio of 119.73%.

Coordinated Financial Services Inc. CO purchased a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,837 shares of the financial services provider's stock, valued at approximately $317,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PRU. GAMMA Investing LLC boosted its holdings in shares of Prudential Financial by 11,280.3% in the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock valued at $96,923,000 after buying an additional 860,239 shares during the period. Nuveen LLC acquired a new position in shares of Prudential Financial in the first quarter valued at approximately $90,010,000. Goldman Sachs Group Inc. boosted its holdings in shares of Prudential Financial by 19.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock valued at $469,777,000 after buying an additional 678,028 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Prudential Financial by 11.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock valued at $404,230,000 after buying an additional 352,335 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Prudential Financial in the fourth quarter valued at approximately $25,796,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company's stock, valued at $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the company's stock in a transaction dated 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 directly owned 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. UBS Group reduced their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Barclays boosted their price target on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, Piper Sandler cut their price objective on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $122.08.

Prudential Financial Stock Performance

Shares of PRU traded up $0.19 during mid-day trading on Wednesday, reaching $105.73. The company's stock had a trading volume of 1,370,495 shares, compared to its average volume of 1,754,463. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The stock has a market cap of $37.22 billion, a P/E ratio of 23.44, a PEG ratio of 0.94 and a beta of 1.07. The business has a 50-day simple moving average of $105.78 and a two-hundred day simple moving average of $105.59. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU - Get Free Report) last released 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. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The company had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.47 billion. During the same period last year, the firm posted $3.39 earnings per share. The business's revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.1%. Prudential Financial's dividend payout ratio is presently 119.73%.

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.