Prudential PLC Has $17.16 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Key Points

• Prudential PLC reduced its shareholding in Prudential Financial, Inc. by 2.3%, now owning 153,621 shares valued at approximately $17.16 million.
• The company's latest earnings report revealed earnings per share of $3.58, exceeding the consensus estimate of $3.22, while the revenue decreased 2.5% year-over-year.
• Prudential Financial announced a quarterly dividend of $1.35, with a dividend yield of 5.2% and a payout ratio of 119.73%.

Prudential PLC trimmed its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,621 shares of the financial services provider's stock after selling 3,653 shares during the quarter. Prudential PLC's holdings in Prudential Financial were worth $17,156,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PRU. Meeder Asset Management Inc. increased its position in Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock worth $26,000 after purchasing an additional 111 shares in the last quarter. Cheviot Value Management LLC bought a new stake in Prudential Financial during the 1st quarter worth approximately $26,000. North Capital Inc. bought a new stake in Prudential Financial during the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new stake in Prudential Financial during the 1st quarter worth approximately $30,000. Finally, Clearstead Trust LLC grew its holdings in Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock worth $30,000 after acquiring an additional 207 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Up 1.8%

Shares of Prudential Financial stock traded up $1.94 during trading on Wednesday, reaching $107.16. 1,803,887 shares of the company traded hands, compared to its average volume of 1,804,461. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a 50 day moving average price of $104.89 and a 200-day moving average price of $106.58. The firm has a market capitalization of $37.72 billion, a PE ratio of 23.76, a P/E/G ratio of 0.94 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same quarter in the previous year, the company earned $3.39 EPS. Prudential Financial's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Tuesday, August 19th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, August 19th. Prudential Financial's payout ratio is presently 119.73%.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the transaction, the insider directly owned 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Barclays boosted their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. UBS Group reduced their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Morgan Stanley reduced their price objective on shares of Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating on the stock in a research note on Monday, July 14th. Finally, Wall Street Zen raised shares of Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $121.75.

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.