Curat Global LLC Makes New $686,000 Investment in Prudential Financial, Inc. (NYSE:PRU)

Curat Global LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,140 shares of the financial services provider's stock, valued at approximately $686,000.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock valued at $436,000 after purchasing an additional 133 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Prudential Financial by 67.0% in the 4th quarter. Mather Group LLC. now owns 1,291 shares of the financial services provider's stock valued at $153,000 after purchasing an additional 518 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Prudential Financial by 8.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,386 shares of the financial services provider's stock valued at $164,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Prudential Financial by 27.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,466 shares of the financial services provider's stock valued at $4,426,000 after purchasing an additional 7,977 shares in the last quarter. Finally, Choreo LLC boosted its stake in shares of Prudential Financial by 25.1% in the 4th quarter. Choreo LLC now owns 31,954 shares of the financial services provider's stock valued at $3,780,000 after purchasing an additional 6,409 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Activity

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the transaction, the insider now directly owns 139,987 shares in the company, valued at $3,992,429.24. This trade represents a 60.18% increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by company insiders.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $103.62 on Friday. The stock has a market capitalization of $36.68 billion, a P/E ratio of 13.87, a P/E/G ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $102.75 and a two-hundred day moving average price of $112.07.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.11. The firm 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 15.86% and a net margin of 4.01%. The company's quarterly revenue was down 38.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.12 EPS. Equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.21%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Analysts Set New Price Targets

Several brokerages have recently commented on PRU. Keefe, Bruyette & Woods reduced their target price on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. UBS Group cut their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Morgan Stanley lifted their price target on Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Barclays cut their price target on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prudential Financial has an average rating of "Hold" and a consensus price target 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.

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