Prudential Financial, Inc. $PRU Shares Purchased by Greenwood Capital Associates LLC

Key Points

• Greenwood Capital Associates LLC increased its stake in Prudential Financial by 16.6% in the second quarter, now owning 19,111 shares worth approximately $2.05 million.
• Prudential Financial reported an earnings per share (EPS) of $3.58 for the last quarter, exceeding the consensus estimate of $3.22, although revenue was down 2.5% from the previous year.
• The company recently declared a quarterly dividend of $1.35 per share, translating to a 5.3% yield, with a payout ratio currently at 119.73%.

Greenwood Capital Associates LLC lifted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 16.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,111 shares of the financial services provider's stock after acquiring an additional 2,719 shares during the quarter. Greenwood Capital Associates LLC's holdings in Prudential Financial were worth $2,053,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PRU. Nuveen LLC bought a new position in Prudential Financial during the first quarter worth $90,010,000. Goldman Sachs Group Inc. raised its holdings in shares of Prudential Financial by 19.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after purchasing an additional 678,028 shares during the period. Amundi boosted its holdings in shares of Prudential Financial by 14.1% in the 1st quarter. Amundi now owns 1,751,633 shares of the financial services provider's stock valued at $183,571,000 after buying an additional 216,119 shares during the period. AQR Capital Management LLC grew its position in shares of Prudential Financial by 72.8% during the 1st quarter. AQR Capital Management LLC now owns 424,659 shares of the financial services provider's stock valued at $46,789,000 after buying an additional 178,888 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Prudential Financial by 2.7% during the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider's stock worth $495,859,000 after acquiring an additional 116,079 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wolfe Research initiated coverage on Prudential Financial in a research note on Tuesday, September 16th. They issued a "peer perform" rating for the company. Barclays boosted their price objective on Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Morgan Stanley increased their target price on Prudential Financial from $113.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Piper Sandler lowered their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. 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 equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $122.08.

Prudential Financial Trading Down 1.1%

Shares of NYSE:PRU opened at $101.87 on Friday. The company has a 50 day moving average of $105.21 and a 200-day moving average of $104.91. 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 cap of $35.86 billion, a P/E ratio of 22.59, a P/E/G ratio of 0.91 and a beta of 1.04. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55.

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

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.3%. Prudential Financial's dividend payout ratio (DPR) is currently 119.73%.

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.

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