Prudential Financial, Inc. $PRU Shares Purchased by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. significantly increased its stake in Prudential Financial by 824.1%, acquiring an additional 62,881 shares during the first quarter, bringing its total holdings to 70,511 shares valued at approximately $7.88 million.
• Analysts have a consensus rating of "Hold" for Prudential Financial, with an average price target of $122.08, reflecting mixed sentiment among institutions regarding the company's future performance.
• Prudential Financial will distribute a quarterly dividend of $1.35 per share on September 11th, representing an annualized yield of 4.9%, despite a high payout ratio of 119.73%.

Graham Capital Management L.P. lifted its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 824.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,511 shares of the financial services provider's stock after purchasing an additional 62,881 shares during the period. Graham Capital Management L.P.'s holdings in Prudential Financial were worth $7,875,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. lifted its stake in shares of Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock worth $26,000 after buying an additional 111 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock worth $28,000 after purchasing an additional 245 shares in the last quarter. North Capital Inc. bought a new position in Prudential Financial during the 1st quarter worth $28,000. Cheviot Value Management LLC acquired a new stake in Prudential Financial in the first quarter valued at about $26,000. Finally, Clearstead Trust LLC boosted its stake in shares of Prudential Financial by 350.8% during the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 207 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Wells Fargo & Company lowered their price target on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Piper Sandler decreased their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Finally, Morgan Stanley upped their target price on shares of Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Prudential Financial presently has a consensus rating of "Hold" and an average price target of $122.08.

Insider Activity

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company's stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the purchase, the insider directly owned 3,168,461 shares in the company, valued at $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company's stock.

Prudential Financial Trading Down 0.1%

PRU traded down $0.07 during midday trading on Wednesday, reaching $107.34. 1,368,849 shares of the company were exchanged, compared to its average volume of 1,526,406. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The stock's 50-day simple moving average is $105.83 and its 200 day simple moving average is $105.74. The stock has a market capitalization of $37.78 billion, a P/E ratio of 23.80, a PEG ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.Prudential Financial's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.39 EPS. As a group, analysts forecast 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, September 11th. Stockholders of record on Tuesday, August 19th will be given 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 5.0%. Prudential Financial's dividend payout ratio is currently 119.73%.

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.