Fort Sheridan Advisors LLC Makes New $299,000 Investment in Prudential Financial, Inc. (NYSE:PRU)

Fort Sheridan Advisors LLC acquired a new position in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,674 shares of the financial services provider's stock, valued at approximately $299,000.

Several other large investors also recently added to or reduced their stakes in PRU. North Capital Inc. bought a new position in Prudential Financial in the 1st quarter worth about $28,000. Opal Wealth Advisors LLC bought a new position in Prudential Financial in the 1st quarter worth about $30,000. Lee Danner & Bass Inc. bought a new position in Prudential Financial in the 4th quarter worth about $35,000. TCTC Holdings LLC bought a new position in Prudential Financial in the 4th quarter worth about $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Prudential Financial in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Price Performance

Shares of NYSE PRU traded down $1.35 during trading hours on Friday, reaching $105.80. 1,425,059 shares of the stock traded hands, compared to its average volume of 1,664,329. The company has a market capitalization of $37.45 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company's 50-day simple moving average is $105.23 and its two-hundred day simple moving average is $108.86.

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, beating analysts' consensus estimates of $3.18 by $0.11. The company had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. Prudential Financial's revenue for the quarter was down 38.2% compared to the same quarter last year. During the same period last year, the firm posted $3.12 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were paid a $1.35 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.10%. Prudential Financial's dividend payout ratio (DPR) is currently 85.58%.

Analyst Ratings Changes

Several research analysts have commented on PRU shares. Piper Sandler cut their target price on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Wall Street Zen downgraded Prudential Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. UBS Group dropped their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $122.15.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the firm's stock in a transaction on Monday, June 16th. The shares were acquired at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the purchase, the insider directly owned 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Prudential Financial Company 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.