Prudential Financial, Inc. (NYSE:PRU) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 11,280.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 867,865 shares of the financial services provider's stock after buying an additional 860,239 shares during the quarter. GAMMA Investing LLC owned 0.24% of Prudential Financial worth $96,923,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Agate Pass Investment Management LLC raised its position in Prudential Financial by 68.4% during the first quarter. Agate Pass Investment Management LLC now owns 11,330 shares of the financial services provider's stock valued at $1,265,000 after purchasing an additional 4,600 shares in the last quarter. Versant Capital Management Inc increased its holdings in Prudential Financial by 131.6% in the first quarter. Versant Capital Management Inc now owns 1,135 shares of the financial services provider's stock worth $127,000 after purchasing an additional 645 shares in the last quarter. Fire Capital Management LLC acquired a new position in Prudential Financial during the 4th quarter worth approximately $202,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Prudential Financial by 46.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 77,265 shares of the financial services provider's stock worth $9,158,000 after acquiring an additional 24,682 shares during the last quarter. Finally, Siemens Fonds Invest GmbH increased its holdings in Prudential Financial by 3.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 3,954 shares of the financial services provider's stock worth $467,000 after acquiring an additional 143 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PRU. UBS Group reduced their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Piper Sandler decreased their target price 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. JPMorgan Chase & Co. cut their price target on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley increased their target price on Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Barclays decreased their price objective on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. One 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 a consensus rating of "Hold" and a consensus target price of $120.15.

Insider Transactions at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were 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 owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The stock was purchased at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the purchase, the insider now directly owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. The trade was a 60.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company's stock.

Prudential Financial Price Performance

Shares of PRU stock traded up $0.23 on Thursday, hitting $104.01. 222,790 shares of the stock traded hands, compared to its average volume of 1,637,459. The firm has a market cap of $36.82 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a 50 day simple moving average of $102.92 and a two-hundred day simple moving average of $112.24. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The firm had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. During the same period in the previous year, the firm posted $3.12 earnings per share. The business's revenue was down 38.2% compared to the same quarter last year. As a group, equities research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, May 20th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.19%. The ex-dividend date 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.