Great Lakes Retirement Inc. Takes Position in Prudential Financial, Inc. (NYSE:PRU)

Great Lakes Retirement Inc. bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,552 shares of the financial services provider's stock, valued at approximately $1,290,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC bought a new stake in shares of Prudential Financial during the first quarter valued at approximately $807,000. Janney Montgomery Scott LLC boosted its stake in Prudential Financial by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 161,113 shares of the financial services provider's stock worth $17,993,000 after buying an additional 640 shares in the last quarter. Mission Wealth Management LP increased its holdings in Prudential Financial by 5.3% in the 1st quarter. Mission Wealth Management LP now owns 10,107 shares of the financial services provider's stock valued at $1,129,000 after buying an additional 506 shares during the period. Good Life Advisors LLC raised its stake in shares of Prudential Financial by 189.4% in the 1st quarter. Good Life Advisors LLC now owns 13,945 shares of the financial services provider's stock valued at $1,557,000 after buying an additional 9,127 shares in the last quarter. Finally, Hengehold Capital Management LLC lifted its holdings in shares of Prudential Financial by 1.9% during the 1st quarter. Hengehold Capital Management LLC now owns 41,828 shares of the financial services provider's stock worth $4,671,000 after acquiring an additional 790 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler cut their price target on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Morgan Stanley boosted their price target 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. Wells Fargo & Company upped their price target on Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods cut their price objective on 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, Barclays lowered their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. 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's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $120.15.

Prudential Financial Price Performance

Shares of PRU stock opened at $104.90 on Tuesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $37.13 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.98 and a beta of 1.07. The firm's 50 day moving average is $103.23 and its 200-day moving average is $110.74. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The business's quarterly revenue was down 38.2% compared to the same quarter last year. During the same period last year, the company earned $3.12 EPS. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.15%. Prudential Financial's dividend payout ratio is currently 85.58%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the transaction, the insider now 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company's stock.

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.

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.