Mattson Financial Services LLC Takes Position in Prudential Financial, Inc. $PRU

Key Points

• Mattson Financial Services LLC recently acquired a stake in Prudential Financial, purchasing 2,936 shares valued at approximately $315,000 in the second quarter.
• Institutional investors hold 56.83% of Prudential Financial’s stock, with several firms increasing their positions in the company during the first quarter.
• Prudential Financial announced a quarterly dividend of $1.35 per share, reflecting an annualized dividend yield of 5.4%.

Mattson Financial Services LLC bought a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,936 shares of the financial services provider's stock, valued at approximately $315,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Prudential Financial by 3.6% in the first 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 last quarter. Acadian Asset Management LLC raised its holdings in shares of Prudential Financial by 3.0% in the first quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider's stock valued at $12,217,000 after purchasing an additional 3,183 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Prudential Financial by 728.4% in the first quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 743 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Prudential Financial by 68.2% in the first quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider's stock valued at $12,373,000 after purchasing an additional 44,937 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Prudential Financial by 9.7% during the first quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock worth $279,000 after buying an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Price Performance

PRU opened at $100.76 on Friday. The company has a market capitalization of $35.47 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 0.88 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $105.06 and a 200-day moving average price of $104.17. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. Equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Tuesday, August 19th. Prudential Financial's dividend payout ratio (DPR) is 119.73%.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PRU shares. Piper Sandler decreased their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company decreased their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Morgan Stanley raised their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. Finally, Barclays decreased their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating for the company in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of "Hold" and a consensus price target of $122.27.

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.

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