Rhumbline Advisers Boosts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Rhumbline Advisers lifted its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 675,946 shares of the financial services provider's stock after acquiring an additional 16,393 shares during the period. Rhumbline Advisers owned 0.19% of Prudential Financial worth $75,490,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PRU. Brighton Jones LLC grew its holdings in shares of Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock worth $436,000 after purchasing an additional 133 shares in the last quarter. Caprock Group LLC lifted its holdings in Prudential Financial by 3.1% during the 4th quarter. Caprock Group LLC now owns 9,980 shares of the financial services provider's stock worth $1,183,000 after buying an additional 301 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Prudential Financial by 6.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,365 shares of the financial services provider's stock valued at $1,229,000 after acquiring an additional 662 shares during the last quarter. Golden State Equity Partners grew its position in shares of Prudential Financial by 1,845.8% during the 4th quarter. Golden State Equity Partners now owns 1,868 shares of the financial services provider's stock worth $221,000 after buying an additional 1,772 shares during the period. Finally, U.S. Capital Wealth Advisors LLC raised its position in shares of Prudential Financial by 5.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 25,525 shares of the financial services provider's stock valued at $3,025,000 after acquiring an additional 1,399 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Insider Activity

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 stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. The trade was a 18.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the purchase, the insider now directly owns 139,987 shares in the company, valued at $3,992,429.24. The trade was a 60.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a research report on Saturday, May 31st. Wells Fargo & Company raised 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. UBS Group dropped their price objective on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Piper Sandler reduced their price target on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $120.15.

Prudential Financial Stock Down 0.2%

NYSE PRU traded down $0.16 during trading hours on Thursday, reaching $103.62. 973,230 shares of the company's stock traded hands, compared to its average volume of 1,640,305. The firm has a 50-day simple moving average of $102.92 and a 200 day simple moving average of $112.24. The firm has a market cap of $36.68 billion, a PE ratio of 13.87, a PEG ratio of 0.98 and a beta of 1.07. 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 current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same quarter in the previous year, the company posted $3.12 earnings per share. Prudential Financial's revenue was down 38.2% compared to the same quarter last year. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a $1.35 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.21%. Prudential Financial's dividend payout ratio (DPR) 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.