MBB Public Markets I LLC Takes Position in Prudential Financial, Inc. $PRU

Key Points

• MBB Public Markets I LLC has invested approximately $319,000 in Prudential Financial, acquiring 2,852 shares of the financial services provider's stock during the first quarter.
• Prudential Financial recently reported $3.58 earnings per share for the quarter, exceeding analyst expectations by $0.36, although its revenue decreased by 2.5% compared to the previous year.
• The company declared a quarterly dividend of $1.35, with a dividend yield of 5.1%, and will be paid to investors of record on August 19th.

MBB Public Markets I LLC acquired a new position in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,852 shares of the financial services provider's stock, valued at approximately $319,000.

A number of other hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock valued at $436,000 after purchasing an additional 133 shares during the last quarter. Focus Partners Wealth increased its position in shares of Prudential Financial by 12.1% in the 4th quarter. Focus Partners Wealth now owns 17,131 shares of the financial services provider's stock valued at $2,181,000 after acquiring an additional 1,846 shares during the period. Gotham Asset Management LLC raised its stake in shares of Prudential Financial by 24.5% in the fourth quarter. Gotham Asset Management LLC now owns 54,463 shares of the financial services provider's stock worth $6,455,000 after purchasing an additional 10,727 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Prudential Financial by 38.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,280 shares of the financial services provider's stock worth $10,580,000 after purchasing an additional 24,801 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp grew its position in shares of Prudential Financial by 20.0% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 15,029 shares of the financial services provider's stock valued at $1,781,000 after acquiring an additional 2,505 shares during the period. Hedge funds and other institutional investors own 56.83% of the company's stock.

Insider Transactions at Prudential Financial

In related 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 transaction of $438,600.00. Following the sale, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company's stock.

Prudential Financial Stock Performance

NYSE PRU traded down $0.56 during trading hours on Monday, hitting $106.34. 536,201 shares of the stock were exchanged, compared to its average volume of 1,744,946. The company has a market cap of $37.43 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 0.95 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. The stock has a 50-day moving average of $105.61 and a 200 day moving average of $105.44. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. During the same period in the prior year, the business earned $3.39 earnings per share. The company's quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.1%. Prudential Financial's dividend payout ratio (DPR) is 119.73%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRU. Barclays lifted their price objective on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. UBS Group cut their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Piper Sandler dropped their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Finally, Morgan Stanley boosted their price target on shares of Prudential Financial from $113.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of "Hold" and a consensus target price of $122.08.

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.