Lbp Am Sa Sells 16,022 Shares of Prudential Financial, Inc. (NYSE:PRU)

LBP AM SA cut its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 121,694 shares of the financial services provider's stock after selling 16,022 shares during the quarter. LBP AM SA's holdings in Prudential Financial were worth $13,591,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PRU. Allspring Global Investments Holdings LLC grew its stake in Prudential Financial by 3.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider's stock valued at $2,320,000 after purchasing an additional 721 shares during the period. Golden State Wealth Management LLC raised its holdings in Prudential Financial by 728.4% during the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 743 shares during the period. Exchange Traded Concepts LLC boosted its stake in Prudential Financial by 9.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock worth $279,000 after purchasing an additional 222 shares during the period. Bridgewater Associates LP grew its holdings in Prudential Financial by 41.8% during the 4th quarter. Bridgewater Associates LP now owns 388,349 shares of the financial services provider's stock valued at $46,031,000 after buying an additional 114,459 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of Prudential Financial by 9.0% in the first quarter. Sound Income Strategies LLC now owns 35,408 shares of the financial services provider's stock worth $3,954,000 after buying an additional 2,913 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the business's stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the purchase, the insider 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company's stock.

Prudential Financial Trading Down 1.3%

PRU stock traded down $1.35 during trading on Friday, hitting $105.80. 1,425,059 shares of the company traded hands, compared to its average volume of 1,662,059. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.17 and a current ratio of 0.17. The company has a 50-day moving average of $105.18 and a 200-day moving average of $109.03. The firm has a market capitalization of $37.45 billion, a PE ratio of 16.77, a P/E/G ratio of 1.02 and a beta of 1.07. 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 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. The firm had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The business's revenue was down 38.2% on a year-over-year basis. During the same quarter last year, the business earned $3.12 earnings per share. Analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.10%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRU shares. Keefe, Bruyette & Woods decreased their target price on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen cut shares of Prudential Financial from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Piper Sandler dropped their price objective 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. Morgan Stanley lifted their price target on Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company upped their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of "Hold" and an average target price of $122.15.

Prudential Financial 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.