Mount Lucas Management LP Has $1.34 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Mount Lucas Management LP boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 213.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,017 shares of the financial services provider's stock after acquiring an additional 8,186 shares during the period. Mount Lucas Management LP's holdings in Prudential Financial were worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. North Capital Inc. bought a new stake in Prudential Financial in the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new position in Prudential Financial in the 1st quarter valued at $30,000. Park Place Capital Corp increased its stake in shares of Prudential Financial by 1,841.2% in the 1st quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 313 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Prudential Financial in the 4th quarter valued at $38,000. Finally, Rossby Financial LCC bought a new position in shares of Prudential Financial in the 1st quarter valued at $39,000. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PRU. Morgan Stanley lowered their price objective on Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating for the company in a research note on Monday, July 14th. Barclays boosted their price target on shares of Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Piper Sandler lowered their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Wells Fargo & Company decreased their target price on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $121.62.

Prudential Financial Trading Up 2.2%

Shares of PRU stock opened at $104.31 on Wednesday. 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 firm has a market capitalization of $36.93 billion, a PE ratio of 16.53, a P/E/G ratio of 1.01 and a beta of 1.07. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The business's fifty day moving average price is $105.31 and its 200 day moving average price is $108.26.

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 analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same quarter last year, the company earned $3.12 earnings per share. The business's revenue for the quarter was down 38.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.18%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the transaction, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.