National Pension Service Boosts Stock Position in Prudential Financial, Inc. $PRU

Key Points

• National Pension Service increased its Prudential Financial stake by 6.4% in the fourth quarter, bringing its holdings to 606,130 shares valued at about $68.4 million.
• Prudential Financial reported better-than-expected quarterly results, with EPS of $3.61 versus estimates of $3.09 and revenue of $15.23 billion versus expectations of $14.10 billion.
• The company also declared a quarterly dividend of $1.40 per share, equal to an annualized yield of 5.6%, even as analysts remain cautious with a consensus rating of “Reduce”.

National Pension Service boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 6.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 606,130 shares of the financial services provider's stock after acquiring an additional 36,452 shares during the quarter. National Pension Service owned 0.17% of Prudential Financial worth $68,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PRU. Brighton Jones LLC boosted its holdings in 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 acquiring an additional 133 shares during the period. Empowered Funds LLC boosted its holdings in Prudential Financial by 30.5% during the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider's stock valued at $1,976,000 after acquiring an additional 4,134 shares during the period. Brown Advisory Inc. boosted its holdings in Prudential Financial by 3.5% during the 2nd quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider's stock valued at $447,000 after acquiring an additional 140 shares during the period. AXA S.A. boosted its holdings in Prudential Financial by 25.8% during the 2nd quarter. AXA S.A. now owns 56,700 shares of the financial services provider's stock valued at $6,092,000 after acquiring an additional 11,630 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Prudential Financial by 15.1% during the 2nd quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider's stock valued at $4,005,000 after acquiring an additional 4,895 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. BMO Capital Markets dropped their target price on Prudential Financial from $91.00 to $87.00 and set an "underperform" rating for the company in a report on Thursday, April 23rd. Morgan Stanley restated an "underweight" rating and set a $92.00 target price (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Weiss Ratings lowered Prudential Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 13th. Piper Sandler upped their price target on Prudential Financial from $99.00 to $105.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Finally, Barclays upped their price target on Prudential Financial from $89.00 to $90.00 and gave the company an "underweight" rating in a research report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $101.50.

Prudential Financial Trading Down 0.0%

PRU opened at $100.61 on Friday. The business has a 50 day simple moving average of $98.69 and a two-hundred day simple moving average of $104.47. The firm has a market capitalization of $34.91 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 1.83 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $119.76.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts' consensus estimates of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The business had revenue of $15.23 billion during the quarter, compared to analyst estimates of $14.10 billion. During the same quarter in the prior year, the company posted $3.29 EPS. Analysts predict that Prudential Financial, Inc. will post 13.75 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th will be given a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 5.6%. Prudential Financial's dividend payout ratio is currently 57.61%.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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