Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 39.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,639 shares of the financial services provider's stock after purchasing an additional 17,296 shares during the period. Mackenzie Financial Corp's holdings in Prudential Financial were worth $7,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Savant Capital LLC increased its position in shares of Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after purchasing an additional 83 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in Prudential Financial by 1.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock valued at $1,116,000 after acquiring an additional 91 shares during the last quarter. Asset Dedication LLC raised its holdings in Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 93 shares during the last quarter. Altman Advisors Inc. raised its holdings in Prudential Financial by 0.6% in the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock valued at $1,907,000 after acquiring an additional 94 shares during the last quarter. Finally, RNC Capital Management LLC raised its holdings in Prudential Financial by 3.3% in the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider's stock valued at $354,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Down 0.5%

Shares of Prudential Financial stock traded down $0.49 during trading on Friday, hitting $103.84. 3,535,576 shares of the stock were exchanged, compared to its average volume of 1,641,311. The firm's 50-day moving average price is $103.69 and its 200 day moving average price is $112.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market cap of $36.76 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55.

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

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.20%. Prudential Financial's payout ratio is currently 85.58%.

Wall Street Analysts Forecast Growth

PRU has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler lowered their target price 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. Barclays lowered their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Finally, UBS Group dropped their price objective on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $120.15.

Insiders Place Their Bets

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the purchase, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18% increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by company insiders.

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.