Lido Advisors LLC Sells 19,942 Shares of Prudential Financial, Inc. $PRU

Lido Advisors LLC decreased its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 37.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,824 shares of the financial services provider's stock after selling 19,942 shares during the quarter. Lido Advisors LLC's holdings in Prudential Financial were worth $3,304,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PRU. VCI Wealth Management LLC increased its holdings in Prudential Financial by 117.1% in the 4th quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider's stock worth $2,178,000 after acquiring an additional 10,404 shares in the last quarter. KBC Group NV lifted its holdings in Prudential Financial by 94.3% during the fourth quarter. KBC Group NV now owns 157,538 shares of the financial services provider's stock valued at $17,783,000 after purchasing an additional 76,461 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich boosted its position in shares of Prudential Financial by 2,669.0% in the fourth quarter. Munich Reinsurance Co Stock Corp in Munich now owns 46,990 shares of the financial services provider's stock worth $5,342,000 after purchasing an additional 45,293 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Prudential Financial by 9.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 171,486 shares of the financial services provider's stock worth $19,357,000 after purchasing an additional 14,327 shares in the last quarter. Finally, Oxbow Advisors LLC bought a new stake in shares of Prudential Financial during the 4th quarter valued at $6,545,000. Institutional investors own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, June 24th. Wall Street Zen raised Prudential Financial from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $100.00 to $103.00 and gave the company an "underweight" rating in a research report on Thursday, July 9th. Bank of America cut their price objective on Prudential Financial from $112.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Finally, BMO Capital Markets reduced their target price on Prudential Financial from $91.00 to $87.00 and set an "underperform" rating on the stock in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Prudential Financial currently has an average rating of "Reduce" and a consensus price target of $105.46.

Prudential Financial Price Performance

PRU stock opened at $119.83 on Friday. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $120.58. The firm has a market capitalization of $41.58 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 2.40 and a beta of 0.85. The company has a fifty day simple moving average of $108.91 and a two-hundred day simple moving average of $104.36. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts' consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The firm had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same period in the previous year, the firm posted $3.29 EPS. Analysts anticipate that Prudential Financial, Inc. will post 13.75 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were issued a $1.40 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.7%. Prudential Financial's payout ratio is 57.61%.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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