Prudential Financial, Inc. (NYSE:PRU) Shares Bought by KBC Group NV

KBC Group NV grew its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,920 shares of the financial services provider's stock after purchasing an additional 6,380 shares during the period. KBC Group NV owned approximately 0.09% of Prudential Financial worth $35,282,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in Prudential Financial during the first quarter valued at approximately $30,000. Hopwood Financial Services Inc. purchased a new position in shares of Prudential Financial in the 4th quarter valued at $34,000. Lee Danner & Bass Inc. purchased a new stake in Prudential Financial during the 4th quarter worth $35,000. TCTC Holdings LLC acquired a new stake in Prudential Financial in the 4th quarter valued at $37,000. Finally, Park Place Capital Corp raised its position in Prudential Financial by 1,841.2% in the first quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 313 shares during the period. Hedge funds and other institutional investors own 56.83% of the company's stock.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the acquisition, the insider now directly owns 3,168,461 shares of the company's stock, valued at $90,744,723.04. This represents a 112.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PRU. UBS Group dropped their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Barclays dropped their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. 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. Keefe, Bruyette & Woods dropped their target price 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. Finally, Wells Fargo & Company increased their price target on Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $120.15.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $107.07 on Monday. 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 firm's 50-day moving average price is $104.09 and its two-hundred day moving average price is $109.54. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.95. The stock has a market capitalization of $37.90 billion, a P/E 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 announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The business's revenue was down 38.2% on a year-over-year basis. During the same quarter last year, the business posted $3.12 EPS. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.04%. Prudential Financial's dividend payout ratio is currently 85.58%.

About Prudential Financial

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.

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