Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 9.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,592 shares of the financial services provider's stock after selling 13,800 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Prudential Financial were worth $14,585,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HBK Sorce Advisory LLC lifted its stake in Prudential Financial by 1.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock worth $1,116,000 after purchasing an additional 91 shares in the last quarter. Altman Advisors Inc. lifted its stake in Prudential Financial by 0.6% in 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 in the last quarter. Brown Brothers Harriman & Co. lifted its stake in Prudential Financial by 7.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,506 shares of the financial services provider's stock worth $179,000 after purchasing an additional 98 shares in the last quarter. SPC Financial Inc. lifted its stake in Prudential Financial by 2.7% in the 4th quarter. SPC Financial Inc. now owns 3,873 shares of the financial services provider's stock worth $459,000 after purchasing an additional 100 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC raised its position in shares of Prudential Financial by 3.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider's stock valued at $306,000 after buying an additional 101 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the purchase, the insider now owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. This represents a 60.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

Prudential Financial Stock Up 1.9%

PRU stock traded up $1.93 during trading on Monday, hitting $104.90. 1,559,904 shares of the company's stock traded hands, compared to its average volume of 1,646,025. The firm has a market capitalization of $37.13 billion, a P/E ratio of 14.04, a PEG ratio of 0.98 and a beta of 1.07. The business has a fifty day simple moving average of $103.03 and a two-hundred day simple moving average of $110.91. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. 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 issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.11. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Prudential Financial's revenue was down 38.2% compared to the same quarter last year. During the same period last year, the company posted $3.12 earnings per share. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's payout ratio is presently 85.58%.

Analyst Ratings Changes

PRU has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Prudential Financial from a "sell" rating to a "hold" rating in a research report on Monday. Barclays reduced their price objective 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. Piper Sandler reduced their price objective on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley upped their target price on shares of Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company upped their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $120.15.

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.