Mirae Asset Global Investments Co. Ltd. Has $4.51 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 10.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,522 shares of the financial services provider's stock after buying an additional 4,056 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Prudential Financial were worth $4,514,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PRU. Opal Wealth Advisors LLC bought a new stake in shares of Prudential Financial in the 1st quarter worth approximately $30,000. Hopwood Financial Services Inc. bought a new position in shares of Prudential Financial in the fourth quarter valued at $34,000. Lee Danner & Bass Inc. acquired a new stake in shares of Prudential Financial during the 4th quarter valued at $35,000. TCTC Holdings LLC bought a new stake in shares of Prudential Financial during the 4th quarter worth $37,000. Finally, Park Place Capital Corp raised its position in shares of Prudential Financial by 1,841.2% during the first quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock worth $37,000 after purchasing an additional 313 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PRU shares. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research report on Monday, June 16th. UBS Group lowered their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Morgan Stanley raised their price target on shares of Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Barclays dropped their price objective on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company boosted their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial presently has a consensus rating of "Hold" and a consensus price target of $120.15.

Prudential Financial Stock Performance

Shares of PRU stock traded down $0.33 during trading on Wednesday, reaching $108.67. The company had a trading volume of 1,552,853 shares, compared to its average volume of 1,655,363. The firm's 50 day simple moving average is $104.48 and its two-hundred day simple moving average is $109.44. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. The company has a market capitalization of $38.47 billion, a PE ratio of 17.22, a PEG ratio of 1.03 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, topping analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The business had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. During the same period in the previous year, the company earned $3.12 earnings per share. Prudential Financial's revenue for the quarter was down 38.2% on a year-over-year basis. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.97%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's payout ratio is presently 85.58%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the purchase, the insider directly owned 3,168,461 shares in the company, valued at $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently 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.