IFM Investors Pty Ltd Has $9.95 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

IFM Investors Pty Ltd grew its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 8.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 82,144 shares of the financial services provider's stock after buying an additional 6,585 shares during the period. IFM Investors Pty Ltd's holdings in Prudential Financial were worth $9,948,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. North Capital Inc. acquired a new stake in shares of Prudential Financial during the first quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new stake in Prudential Financial during the 1st quarter worth approximately $30,000. Hopwood Financial Services Inc. bought a new position in Prudential Financial in the fourth quarter valued at approximately $34,000. Lee Danner & Bass Inc. bought a new stake in shares of Prudential Financial during the fourth quarter worth $35,000. Finally, TCTC Holdings LLC acquired a new stake in shares of Prudential Financial during the fourth quarter worth $37,000. Institutional investors own 56.83% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley upped their price objective on Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. 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 note on Friday, May 2nd. Wall Street Zen cut shares of Prudential Financial from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $120.15.

Prudential Financial Stock Performance

Prudential Financial stock traded up $0.94 during midday trading on Friday, reaching $109.60. 732,327 shares of the company's stock were exchanged, compared to its average volume of 1,658,006. The stock's 50-day simple moving average is $104.87 and its 200 day simple moving average is $109.30. The firm has a market cap of $38.80 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.17 and a current ratio of 0.17. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55.

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, topping 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 business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same period in the previous year, the firm earned $3.12 EPS. The firm's revenue was down 38.2% compared to the same quarter last year. On average, analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business 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 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's payout ratio is presently 85.58%.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the stock in a transaction on Monday, June 16th. The shares were purchased at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the acquisition, the insider directly owned 3,168,461 shares in the company, valued at $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company's stock.

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.