MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $10.48 Million Position in Prudential Financial, Inc. $PRU

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Prudential Financial by 5.2%, acquiring 4,651 additional shares, bringing its total to 93,931 shares worth approximately $10.5 million.
• Prudential Financial reported $3.58 earnings per share for the last quarter, surpassing analysts' estimates by $0.36, despite a 2.5% decline in year-over-year revenue.
• A quarterly dividend of $1.35 per share has been declared, equating to an annual yield of 5.1%, with a payout ratio of 119.73%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 93,931 shares of the financial services provider's stock after acquiring an additional 4,651 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Prudential Financial were worth $10,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake 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 worth $26,000 after acquiring an additional 111 shares during the period. Cheviot Value Management LLC bought a new position in shares of Prudential Financial during the 1st quarter worth approximately $26,000. North Capital Inc. bought a new position in shares of Prudential Financial during the 1st quarter worth approximately $28,000. AlphaQuest LLC boosted its stake in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock worth $28,000 after acquiring an additional 245 shares during the period. Finally, Opal Wealth Advisors LLC bought a new stake in Prudential Financial in the 1st quarter valued at $30,000. 56.83% of the stock is currently owned by institutional investors.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the stock in a transaction on Monday, June 16th. The stock was acquired at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the acquisition, the insider directly owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann M. Kappler sold 4,000 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the transaction, the executive vice president directly owned 21,506 shares of the company's stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Price Performance

Shares of Prudential Financial stock traded down $0.05 during trading on Friday, reaching $106.94. 1,628,323 shares of the company's stock were exchanged, compared to its average volume of 1,397,531. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current 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 market cap of $37.64 billion, a P/E ratio of 23.71, a PEG ratio of 0.95 and a beta of 1.07. The firm's 50-day moving average price is $105.67 and its 200 day moving average price is $105.56.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results 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. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The company had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.47 billion. During the same quarter in the previous year, the firm earned $3.39 EPS. Prudential Financial's revenue was down 2.5% on a year-over-year basis. As a group, research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial's dividend payout ratio is presently 119.73%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PRU. Wells Fargo & Company reduced their price target on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays boosted their price target on Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. boosted their price target on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, Piper Sandler reduced their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $122.08.

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.