Principal Financial Group Inc. Acquires 11,925 Shares of Prudential Financial, Inc. (NYSE:PRU)

Principal Financial Group Inc. lifted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 424,154 shares of the financial services provider's stock after acquiring an additional 11,925 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Prudential Financial worth $47,370,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Prudential Financial in the 1st quarter worth about $30,000. Hopwood Financial Services Inc. bought a new stake in shares of Prudential Financial in the 4th quarter worth about $34,000. Lee Danner & Bass Inc. bought a new stake in shares of Prudential Financial in the 4th quarter worth about $35,000. TCTC Holdings LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth about $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Prudential Financial in the 4th quarter worth about $38,000. Institutional investors own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages 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. 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 report on Friday, May 2nd. Wall Street Zen lowered shares of Prudential Financial from a "hold" rating to a "sell" rating in a report on Saturday. Morgan Stanley lifted their price objective on shares of Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Two 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 stock. Based on data from MarketBeat, Prudential Financial has a consensus rating of "Hold" and a consensus target price of $120.15.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.

Prudential Financial Stock Up 0.9%

Shares of Prudential Financial stock opened at $109.60 on Monday. The firm's 50 day moving average price is $104.87 and its 200-day moving average price is $109.22. The company has a quick ratio of 0.17, a current 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 $38.80 billion, a P/E ratio of 17.37, a PEG ratio of 1.04 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The firm had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. The company's quarterly revenue was down 38.2% compared to the same quarter last year. On average, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's payout ratio is currently 85.58%.

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.