Private Advisor Group LLC Buys 2,872 Shares of Prudential Financial, Inc. (NYSE:PRU)

Private Advisor Group LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,703 shares of the financial services provider's stock after acquiring an additional 2,872 shares during the period. Private Advisor Group LLC's holdings in Prudential Financial were worth $6,891,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PRU. Norges Bank acquired a new position in Prudential Financial during the fourth quarter valued at approximately $115,878,000. Northern Trust Corp raised its holdings in Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock valued at $555,513,000 after acquiring an additional 897,916 shares in the last quarter. GAMMA Investing LLC raised its holdings in Prudential Financial by 11,280.3% in the 1st quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock valued at $96,923,000 after acquiring an additional 860,239 shares in the last quarter. Marshall Wace LLP raised its holdings in Prudential Financial by 322.9% in the 4th quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider's stock valued at $84,287,000 after acquiring an additional 542,964 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prudential Financial by 11.5% in 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 valued at $404,230,000 after acquiring an additional 352,335 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Wall Street Analyst Weigh In

PRU has been the subject of a number of research analyst reports. Piper Sandler lowered their price target on 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 price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Barclays boosted their price objective on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Wall Street Zen lowered Prudential Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Finally, Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $121.75.

Prudential Financial Price Performance

PRU stock traded down $0.59 during mid-day trading on Thursday, hitting $104.76. 357,096 shares of the stock were exchanged, compared to its average volume of 1,766,047. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $37.08 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 1.03 and a beta of 1.07. The business has a fifty day moving average price of $105.13 and a 200 day moving average price of $108.09. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.11. The business 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%. The firm's quarterly revenue was down 38.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.12 earnings per share. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current 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 issued a $1.35 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.15%. Prudential Financial's payout ratio is 85.58%.

Insider Activity at Prudential Financial

In related 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 purchased at an average price of $28.64 per share, for a total transaction 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 trade represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by company insiders.

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.