Northwest & Ethical Investments L.P. Has $3.98 Million Stock Position in Prudential Financial, Inc. $PRU

Key Points

• Northwest & Ethical Investments L.P. has reduced its stake in Prudential Financial, Inc. by 24.9% to 35,632 shares, valued at approximately $3.98 million.
• Recent analyst ratings for Prudential Financial show a mix, with ten hold ratings, one buy rating, and one sell rating, while the average target price stands at $121.75.
• Prudential Financial's quarterly earnings surpassed estimates at $3.58 per share, alongside a revenue of $13.50 billion, despite a year-over-year decline of 2.5%.

Northwest & Ethical Investments L.P. decreased its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 24.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,632 shares of the financial services provider's stock after selling 11,800 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Prudential Financial were worth $3,979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PRU. Northern Trust Corp boosted its position in Prudential Financial by 23.7% during the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after acquiring an additional 897,916 shares during the period. GAMMA Investing LLC boosted its position in Prudential Financial by 11,280.3% during the 1st quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after acquiring an additional 860,239 shares during the period. Nuveen LLC acquired a new stake in Prudential Financial during the 1st quarter worth about $90,010,000. Goldman Sachs Group Inc. boosted its position in Prudential Financial by 19.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after acquiring an additional 678,028 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Prudential Financial by 11.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock worth $404,230,000 after acquiring an additional 352,335 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on PRU shares. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays raised their price target on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods cut their price target on 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. Morgan Stanley cut their price target 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. Finally, JPMorgan Chase & Co. raised their price target on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Prudential Financial presently has an average rating of "Hold" and a consensus target price of $121.75.

Prudential Financial Stock Down 0.8%

Shares of PRU stock opened at $105.98 on Monday. The stock's 50 day simple moving average is $104.96 and its 200 day simple moving average is $106.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The company has a market capitalization of $37.30 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 0.94 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.36. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same period last year, the business earned $3.39 EPS. The firm's revenue was down 2.5% compared to the same quarter last year. As a group, research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Tuesday, August 19th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, August 19th. Prudential Financial's dividend payout ratio (DPR) is presently 119.73%.

Insider Buying and Selling at Prudential Financial

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

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.

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