First Trust Advisors LP Buys 431,527 Shares of Prudential Financial, Inc. $PRU

Key Points

• First Trust Advisors LP increased its Prudential Financial stake by 37.3% in Q1, buying 431,527 shares and bringing its holdings to 1,588,247 shares valued at about $155.2 million.
• Prudential reported better-than-expected Q1 earnings, posting $3.61 per share versus estimates of $3.09 and revenue of $15.23 billion versus expectations of $14.10 billion.
• The company recently paid a $1.40 quarterly dividend, equal to an annualized yield of 4.8%, while analysts currently hold a cautious outlook with a consensus rating of "Reduce" and an average target price of $105.46.

First Trust Advisors LP grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 37.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,588,247 shares of the financial services provider's stock after acquiring an additional 431,527 shares during the period. First Trust Advisors LP owned 0.46% of Prudential Financial worth $155,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PRU. Jessup Wealth Management Inc bought a new stake in Prudential Financial during the 4th quarter valued at $25,000. Garton & Associates Financial Advisors LLC bought a new stake in Prudential Financial during the fourth quarter worth $26,000. Salomon & Ludwin LLC grew its position in Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider's stock valued at $27,000 after buying an additional 114 shares during the period. Lodestone Wealth Management LLC bought a new position in shares of Prudential Financial during the 4th quarter valued at approximately $28,000. Finally, Basepoint Wealth LLC purchased a new position in shares of Prudential Financial during the 4th quarter valued at $30,000. Institutional investors own 56.83% of the company's stock.

Prudential Financial Trading Down 0.9%

Prudential Financial stock opened at $117.78 on Friday. The stock has a market cap of $40.87 billion, a P/E ratio of 12.12, a PEG ratio of 2.36 and a beta of 0.85. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $120.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The firm's 50 day moving average price is $108.55 and its 200-day moving average price is $104.25.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating analysts' consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The firm had revenue of $15.23 billion during the quarter, compared to analyst estimates of $14.10 billion. During the same period last year, the firm posted $3.29 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post 13.83 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Tuesday, May 26th. Prudential Financial's payout ratio is presently 57.61%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PRU. Barclays raised their target price on Prudential Financial from $90.00 to $92.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 7th. UBS Group decreased their price objective on Prudential Financial from $105.00 to $98.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Morgan Stanley restated an "underweight" rating and issued a $92.00 price objective (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Mizuho upped their price objective on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $117.00 to $129.00 and gave the company a "neutral" rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $105.46.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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