XTX Topco Ltd Sells 5,369 Shares of Prudential Financial, Inc. (NYSE:PRU)

Key Points

• XTX Topco Ltd has reduced its stake in Prudential Financial by 62.7%, selling 5,369 shares and retaining 3,191 shares, valuing its holdings at $356,000.
• Prudential Financial reported $3.58 earnings per share for the last quarter, exceeding the consensus estimate of $3.22, despite revenue being down 2.5% compared to the previous year.
• The company declared a quarterly dividend of $1.35 per share, with a dividend yield of 5.2%, although its payout ratio is notably high at 119.73%.

XTX Topco Ltd cut its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 62.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,191 shares of the financial services provider's stock after selling 5,369 shares during the period. XTX Topco Ltd's holdings in Prudential Financial were worth $356,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in shares of Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 111 shares during the period. North Capital Inc. bought a new position in Prudential Financial during the first quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in Prudential Financial during the first quarter valued at about $30,000. Park Place Capital Corp boosted its stake in Prudential Financial by 1,841.2% during the first quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock valued at $37,000 after buying an additional 313 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Prudential Financial during the fourth quarter valued at about $38,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PRU shares. Morgan Stanley decreased their price target on 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. Keefe, Bruyette & Woods decreased their target price on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company cut their price target on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. UBS Group decreased their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Finally, Barclays boosted their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Prudential Financial currently has an average rating of "Hold" and a consensus target price of $121.75.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the purchase, the insider directly owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company's stock.

Prudential Financial Stock Up 1.9%

Shares of NYSE PRU traded up $2.00 during mid-day trading on Tuesday, reaching $105.26. 1,466,730 shares of the company's stock were exchanged, compared to its average volume of 1,810,008. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $37.05 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 0.95 and a beta of 1.07. The business has a fifty day simple moving average of $104.81 and a 200 day simple moving average of $106.59.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, topping analysts' consensus estimates of $3.22 by $0.36. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm's quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the business posted $3.39 earnings per share. As a group, equities 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 will be paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th will be paid a $1.35 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.1%. Prudential Financial's payout ratio is presently 119.73%.

About Prudential Financial

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.