Prudential Financial, Inc. (NYSE:PRU) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,354 shares of the financial services provider's stock after acquiring an additional 8,910 shares during the period. ProShare Advisors LLC's holdings in Prudential Financial were worth $10,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PRU. Grove Bank & Trust lifted its stake in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial during the fourth quarter valued at about $29,000. CGC Financial Services LLC boosted its holdings in shares of Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after buying an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Prudential Financial in the 4th quarter worth approximately $33,000. Finally, Hopwood Financial Services Inc. bought a new position in shares of Prudential Financial during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PRU. BMO Capital Markets assumed coverage on Prudential Financial in a report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective for the company. Keefe, Bruyette & Woods decreased 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. JPMorgan Chase & Co. dropped their price target on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. 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 research report on Friday, May 2nd. Finally, Morgan Stanley boosted their target price on shares of Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of "Hold" and an average target price of $121.08.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The shares were purchased at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the purchase, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. This represents a 60.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company's stock.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded down $4.05 during trading on Wednesday, hitting $101.82. 2,689,207 shares of the company's stock were exchanged, compared to its average volume of 1,623,468. 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 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $36.04 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 0.98 and a beta of 1.07. The business has a 50-day simple moving average of $104.77 and a 200-day simple moving average of $113.77.

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, beating the consensus estimate of $3.18 by $0.11. The business had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The company's revenue for the quarter was down 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.12 EPS. On average, research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.30%. Prudential Financial's payout ratio is 85.58%.

Prudential Financial Company 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.