Plato Investment Management Ltd Reduces Stock Holdings in Prudential Financial, Inc. $PRU

Key Points

• Plato Investment Management Ltd has reduced its stake in Prudential Financial by 22.1%, holding 20,214 shares worth approximately $2.28 million as of the latest SEC filing.
• Several institutional investors increased their positions in Prudential Financial, with Gotham Asset Management boosting its holdings by 24.5% in the fourth quarter.
• Prudential Financial is set to pay a quarterly dividend of $1.35 per share, resulting in a 5.1% dividend yield, with a proposed payout ratio of 119.73%.

Plato Investment Management Ltd lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,214 shares of the financial services provider's stock after selling 5,733 shares during the period. Plato Investment Management Ltd's holdings in Prudential Financial were worth $2,282,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock worth $26,000 after acquiring an additional 111 shares in the last quarter. Cheviot Value Management LLC purchased a new position in Prudential Financial in the first quarter worth about $26,000. North Capital Inc. purchased a new position in Prudential Financial in the first quarter worth about $28,000. AlphaQuest LLC raised its holdings in Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock worth $28,000 after buying an additional 245 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Prudential Financial in the first quarter worth about $30,000. Institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Performance

NYSE:PRU traded down $3.37 during trading hours on Tuesday, hitting $102.08. 834,796 shares of the company were exchanged, compared to its average volume of 1,746,896. The stock has a market capitalization of $35.93 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 0.95 and a beta of 1.07. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The company's 50 day moving average price is $105.59 and its 200-day moving average price is $105.37.

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

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.3%. Prudential Financial's payout ratio is presently 119.73%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRU. UBS Group decreased their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Morgan Stanley boosted their price objective on shares of Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Piper Sandler decreased their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. JPMorgan Chase & Co. boosted their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Finally, Barclays boosted their target price 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. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $122.08.

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.