Robeco Institutional Asset Management B.V. Decreases Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Robeco Institutional Asset Management B.V. lessened its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 12.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,723 shares of the financial services provider's stock after selling 25,872 shares during the period. Robeco Institutional Asset Management B.V. owned 0.05% of Prudential Financial worth $20,071,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Prudential Financial in the 1st quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $34,000. Lee Danner & Bass Inc. acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $35,000. TCTC Holdings LLC acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Up 0.3%

NYSE:PRU traded up $0.33 on Friday, hitting $107.07. The stock had a trading volume of 2,153,200 shares, compared to its average volume of 1,654,185. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65. The business's fifty day moving average is $104.09 and its 200 day moving average is $109.61. The company has a market cap of $37.90 billion, a PE ratio of 16.97, a P/E/G ratio of 1.02 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same quarter last year, the company earned $3.12 earnings per share. The company's revenue for the quarter was down 38.2% on a year-over-year basis. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced 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 of this dividend was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.04%. Prudential Financial's dividend payout ratio is presently 85.58%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PRU. Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. decreased their price target on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company upped their target price on Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. UBS Group cut their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Finally, Piper Sandler cut their target price on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $120.15.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the transaction, the insider now owns 3,168,461 shares of the company's stock, valued at $90,744,723.04. The trade was a 112.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company's stock.

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.