Garland Capital Management Inc. Sells 4,500 Shares of Prudential Financial, Inc. (NYSE:PRU)

Garland Capital Management Inc. reduced its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 11.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,840 shares of the financial services provider's stock after selling 4,500 shares during the period. Prudential Financial makes up 3.6% of Garland Capital Management Inc.'s investment portfolio, making the stock its 15th largest holding. Garland Capital Management Inc.'s holdings in Prudential Financial were worth $3,891,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PRU. Norges Bank bought a new position in shares of Prudential Financial in the 4th quarter worth $115,878,000. Northern Trust Corp lifted its holdings in shares of Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after purchasing an additional 897,916 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Prudential Financial by 11,280.3% in the 1st quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after purchasing an additional 860,239 shares in the last quarter. Raymond James Financial Inc. bought a new position in Prudential Financial during the 4th quarter valued at $76,303,000. Finally, Marshall Wace LLP lifted its stake in Prudential Financial by 322.9% during the 4th quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider's stock valued at $84,287,000 after acquiring an additional 542,964 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Trading Up 0.2%

Shares of Prudential Financial stock opened at $104.31 on Friday. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The firm has a market cap of $36.93 billion, a PE ratio of 16.53, a P/E/G ratio of 0.99 and a beta of 1.07. The stock has a fifty day moving average price of $103.44 and a 200-day moving average price of $110.32. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same period last year, the firm posted $3.12 EPS. The business's revenue was down 38.2% compared to the same quarter last year. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.18%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is currently 85.58%.

Wall Street Analysts Forecast Growth

PRU has been the topic of several recent analyst reports. Morgan Stanley raised their price objective 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. JPMorgan Chase & Co. dropped their price objective 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. Barclays dropped their price objective on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. UBS Group dropped their price objective 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. Finally, Wells Fargo & Company raised their price objective on Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $120.15.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was bought at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the acquisition, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. The trade was a 60.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.

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.

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