Prudential Financial, Inc. $PRU Shares Bought by Credit Agricole S A

Key Points

• Credit Agricole S A increased its holdings in Prudential Financial, Inc. by 89.2% in the first quarter, owning approximately 244,854 shares valued at $27.3 million as of its latest SEC filing.
• Major shareholder, Insurance Co Of Ame Prudential, acquired nearly 1.68 million shares of Prudential Financial, increasing their ownership by 112.29% and bringing their total shares to 3.17 million.
• Prudential Financial plans to pay a quarterly dividend of $1.35 per share, resulting in an annualized dividend of $5.40 and a yield of 5.1%.

Credit Agricole S A lifted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 89.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,854 shares of the financial services provider's stock after purchasing an additional 115,461 shares during the quarter. Credit Agricole S A owned about 0.07% of Prudential Financial worth $27,345,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PRU. Meeder Asset Management Inc. boosted its position in shares of Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock worth $26,000 after purchasing an additional 111 shares in the last quarter. Cheviot Value Management LLC acquired a new stake in shares of Prudential Financial in the 1st quarter worth $26,000. North Capital Inc. acquired a new stake in shares of Prudential Financial in the 1st quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Prudential Financial in the 1st quarter worth $30,000. Finally, Clearstead Trust LLC boosted its position in shares of Prudential Financial by 350.8% in the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock worth $30,000 after purchasing an additional 207 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Price Performance

Shares of Prudential Financial stock traded up $2.63 on Friday, hitting $109.80. The company's stock had a trading volume of 1,957,163 shares, compared to its average volume of 1,771,471. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The firm has a fifty day moving average price of $105.21 and a 200-day moving average price of $105.94. The company has a market capitalization of $38.65 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 0.95 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.36. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. During the same quarter in the previous year, the business earned $3.39 EPS. Prudential Financial's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Tuesday, August 19th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, August 19th. Prudential Financial's payout ratio is currently 119.73%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the purchase, the insider directly owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PRU has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. Barclays raised their target price on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Piper Sandler reduced their target price on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Finally, Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $122.08.

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.