MQS Management LLC Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

MQS Management LLC purchased a new position in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,947 shares of the financial services provider's stock, valued at approximately $552,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Capital Inc. purchased a new position in Prudential Financial in the first quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new position in Prudential Financial in the first quarter worth about $30,000. Lee Danner & Bass Inc. purchased a new position in Prudential Financial in the fourth quarter worth about $35,000. TCTC Holdings LLC purchased a new position in Prudential Financial in the fourth quarter worth about $37,000. Finally, Park Place Capital Corp grew its position in Prudential Financial by 1,841.2% in the first quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock worth $37,000 after acquiring an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PRU shares. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Thursday. Wall Street Zen downgraded shares of Prudential Financial from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Morgan Stanley raised their price objective on shares of Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Piper Sandler decreased their price objective on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $122.15.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the purchase, the insider directly owned 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This represents a 112.29% increase in their position. The purchase was disclosed in a 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 Trading Down 1.3%

Shares of Prudential Financial stock traded down $1.35 on Friday, hitting $105.80. 1,425,059 shares of the company traded hands, compared to its average volume of 1,664,329. The stock's 50 day moving average price is $105.23 and its 200-day moving average price is $108.86. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a market cap of $37.45 billion, a PE ratio of 16.77, a PEG ratio of 1.01 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 EPS for the quarter, topping analysts' consensus estimates of $3.18 by $0.11. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. Prudential Financial's revenue for the quarter was down 38.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.12 earnings per share. Equities research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is 85.58%.

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.