Prudential Financial, Inc. (NYSE:PRU) Position Lifted by SFE Investment Counsel

SFE Investment Counsel lifted its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 26.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,823 shares of the financial services provider's stock after buying an additional 13,725 shares during the period. Prudential Financial makes up 1.4% of SFE Investment Counsel's investment portfolio, making the stock its 23rd largest holding. SFE Investment Counsel's holdings in Prudential Financial were worth $7,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Altman Advisors Inc. grew its position in Prudential Financial by 0.6% during the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock worth $1,907,000 after purchasing an additional 94 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Prudential Financial by 7.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,506 shares of the financial services provider's stock valued at $179,000 after acquiring an additional 98 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in shares of Prudential Financial by 3.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider's stock valued at $306,000 after acquiring an additional 101 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of Prudential Financial by 0.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 12,927 shares of the financial services provider's stock valued at $1,443,000 after purchasing an additional 103 shares during the period. Finally, Providence Capital Advisors LLC raised its position in Prudential Financial by 0.4% during the fourth quarter. Providence Capital Advisors LLC now owns 27,782 shares of the financial services provider's stock worth $3,293,000 after acquiring an additional 105 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the purchase, the insider owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company's stock.

Prudential Financial Trading Down 0.9%

PRU traded down $0.99 during trading on Thursday, hitting $104.36. 1,285,422 shares of the company's stock were exchanged, compared to its average volume of 1,393,040. The firm has a market cap of $36.94 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. The stock has a 50 day moving average price of $105.08 and a 200 day moving average price of $108.00. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share 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 the consensus estimate of $14.76 billion. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The business's quarterly revenue was down 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.12 earnings per share. As a group, analysts expect 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 was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.17%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PRU shares. UBS Group cut their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Morgan Stanley cut their price objective on shares of Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. Barclays boosted their price objective on shares of Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler cut their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $121.75.

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.