Deutsche Bank AG Boosts Stake in Prudential Financial, Inc. (NYSE:PRU)

Key Points

• Deutsche Bank AG increased its holdings in Prudential Financial by 2.3%, owning 1,284,466 shares worth approximately $143.4 million as of its recent SEC filing.
• Prudential Financial declared a quarterly dividend of $1.35 per share, with a total annualized dividend yield of 5.2% and a payout ratio of 119.73%.
• Analysts have set varying price targets for Prudential Financial, with a consensus target price of $121.75 and most ratings leaning towards "Hold."

Deutsche Bank AG raised its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,284,466 shares of the financial services provider's stock after purchasing an additional 29,025 shares during the quarter. Deutsche Bank AG owned 0.36% of Prudential Financial worth $143,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Prudential Financial by 3.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider's stock valued at $2,320,000 after purchasing an additional 721 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Prudential Financial by 728.4% in the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 743 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Prudential Financial by 9.7% in the first quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock valued at $279,000 after buying an additional 222 shares in the last quarter. Bridgewater Associates LP increased its holdings in Prudential Financial by 41.8% in the fourth quarter. Bridgewater Associates LP now owns 388,349 shares of the financial services provider's stock valued at $46,031,000 after buying an additional 114,459 shares in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Prudential Financial by 9.0% in the first quarter. Sound Income Strategies LLC now owns 35,408 shares of the financial services provider's stock valued at $3,954,000 after buying an additional 2,913 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Trading Up 1.9%

Shares of NYSE PRU traded up $2.00 during trading on Tuesday, hitting $105.26. 1,466,728 shares of the company traded hands, compared to its average volume of 1,791,321. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a 50-day moving average price of $104.81 and a 200-day moving average price of $106.59. The firm has a market capitalization of $37.05 billion, a P/E ratio of 23.34, a P/E/G ratio of 0.95 and a beta of 1.07. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its 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. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.39 EPS. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research analyst reports. UBS Group dropped their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Barclays increased their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Morgan Stanley dropped their target price on shares of Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating for the company in a report on Monday, July 14th. Wells Fargo & Company dropped their target price 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. Finally, Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $121.75.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the firm's stock in a transaction on Monday, June 16th. The stock was bought at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the transaction, the insider directly owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This represents a 112.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company's stock.

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.