Means Investment CO. Inc. Has $800,000 Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Means Investment CO. Inc. cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 40.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,166 shares of the financial services provider's stock after selling 4,769 shares during the quarter. Means Investment CO. Inc.'s holdings in Prudential Financial were worth $800,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Centennial Wealth Advisory LLC increased its stake in shares of Prudential Financial by 10.3% in the first quarter. Centennial Wealth Advisory LLC now owns 4,739 shares of the financial services provider's stock worth $529,000 after buying an additional 442 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in Prudential Financial by 2.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 7,842 shares of the financial services provider's stock worth $876,000 after acquiring an additional 202 shares in the last quarter. Steel Grove Capital Advisors LLC increased its position in shares of Prudential Financial by 4.9% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 16,443 shares of the financial services provider's stock worth $1,836,000 after purchasing an additional 771 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Prudential Financial by 2.2% during the first quarter. State of Alaska Department of Revenue now owns 41,470 shares of the financial services provider's stock worth $4,631,000 after purchasing an additional 875 shares during the last quarter. Finally, LifeWealth Investments LLC grew its stake in Prudential Financial by 52.9% in the first quarter. LifeWealth Investments LLC now owns 3,544 shares of the financial services provider's stock worth $396,000 after purchasing an additional 1,226 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

PRU stock traded up $0.20 during trading on Friday, hitting $104.31. The company had a trading volume of 2,639,210 shares, compared to its average volume of 1,653,531. The firm has a market capitalization of $36.93 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 0.99 and a beta of 1.07. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average of $103.33 and a 200 day moving average of $110.48. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week 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 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The firm had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. During the same quarter in the previous year, the company earned $3.12 earnings per share. The firm's quarterly revenue was down 38.2% compared to the same quarter last year. As a group, research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors 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 5.18%. Prudential Financial's payout ratio is currently 85.58%.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average cost of $28.64 per share, for a total transaction 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. The trade was a 112.29% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRU. Wells Fargo & Company increased their target price on Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. UBS Group reduced their price objective on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. JPMorgan Chase & Co. lowered their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Barclays reduced 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 report on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $120.15.

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.