MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Cuts Holdings in Prudential Financial, Inc. (NYSE:PRU)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 91.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,142 shares of the financial services provider's stock after selling 12,711 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Prudential Financial were worth $128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. Centricity Wealth Management LLC purchased a new position in Prudential Financial in the 4th quarter worth approximately $29,000. Opal Wealth Advisors LLC purchased a new position in Prudential Financial in the 1st quarter worth approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Prudential Financial in the 4th quarter valued at $34,000. Lee Danner & Bass Inc. purchased a new stake in shares of Prudential Financial in the 4th quarter valued at $35,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Prudential Financial in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Down 1.9%

Shares of NYSE PRU opened at $102.88 on Monday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The firm has a market capitalization of $36.42 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The firm has a fifty day simple moving average of $103.03 and a two-hundred day simple moving average of $110.91.

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

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were paid a $1.35 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.25%. Prudential Financial's payout ratio is 85.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut their price objective 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. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Finally, Barclays lowered their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of "Hold" and a consensus target price of $120.15.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was bought at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the purchase, the insider now directly owns 139,987 shares in the company, valued at $3,992,429.24. The trade was a 60.18% increase 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. 0.25% of the stock is owned by company insiders.

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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