Czech National Bank Boosts Stake in Prudential Financial, Inc. (NYSE:PRU)

Czech National Bank boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,308 shares of the financial services provider's stock after acquiring an additional 4,120 shares during the period. Czech National Bank's holdings in Prudential Financial were worth $9,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial during the 4th quarter valued at about $29,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial in the fourth quarter worth about $33,000. Hopwood Financial Services Inc. bought a new position in Prudential Financial during the fourth quarter valued at approximately $34,000. Lee Danner & Bass Inc. purchased a new position in Prudential Financial during the 4th quarter valued at approximately $35,000. Finally, TCTC Holdings LLC bought a new stake in Prudential Financial in the 4th quarter worth approximately $37,000. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PRU shares. UBS Group decreased their price target on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a research report on Saturday. Piper Sandler dropped their price target on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Keefe, Bruyette & Woods decreased their price objective on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, eleven have given 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, the company currently has a consensus rating of "Hold" and a consensus target price of $120.15.

Prudential Financial Trading Down 0.5%

PRU stock traded down $0.57 during midday trading on Wednesday, reaching $103.85. The company's stock had a trading volume of 1,398,547 shares, compared to its average volume of 1,642,276. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The firm has a market capitalization of $36.76 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 0.98 and a beta of 1.07. The stock has a fifty day simple moving average of $103.04 and a two-hundred day simple moving average of $112.30. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter last year, the firm posted $3.12 EPS. The firm's revenue was down 38.2% compared to the same quarter last year. On average, equities research analysts predict that Prudential Financial, Inc. will post 14.36 EPS 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 dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial's dividend payout ratio is presently 85.58%.

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.