Robeco Institutional Asset Management B.V. Has $11.45 Million Position in Prudential Financial, Inc. $PRU

Key Points

• Robeco Institutional Asset Management B.V. reduced its holdings in Prudential Financial by 40.7% during the second quarter, owning 106,578 shares valued at approximately $11.45 million after selling 73,145 shares.
• Prudential Financial reported $3.58 earnings per share for the last quarter, exceeding the consensus estimate by $0.36, although it saw a 2.5% decline in quarterly revenue year-over-year.
• The company announced a $1.35 per share quarterly dividend, translating to a 5.2% dividend yield and a payout ratio of 119.73%.

Robeco Institutional Asset Management B.V. lessened its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 40.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,578 shares of the financial services provider's stock after selling 73,145 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Prudential Financial were worth $11,451,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Prudential Financial by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider's stock valued at $2,320,000 after acquiring an additional 721 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Prudential Financial by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider's stock worth $12,217,000 after purchasing an additional 3,183 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Prudential Financial by 728.4% during the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock worth $94,000 after purchasing an additional 743 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Prudential Financial by 68.2% during the 1st quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider's stock valued at $12,373,000 after purchasing an additional 44,937 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Prudential Financial by 9.7% in the first quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock valued at $279,000 after buying an additional 222 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Price Performance

Prudential Financial stock opened at $104.01 on Monday. The business's 50-day simple moving average is $105.19 and its 200 day simple moving average is $104.79. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The stock has a market cap of $36.61 billion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 0.92 and a beta of 1.04. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. The firm had revenue of $13.50 billion during 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 company's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.39 EPS. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. Prudential Financial's payout ratio is presently 119.73%.

Insider Activity

In related news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares of the company's stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PRU shares. Wolfe Research initiated coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a "peer perform" rating for the company. Wells Fargo & Company cut their price objective on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 16th. Barclays increased their target price on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Piper Sandler cut their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Finally, Morgan Stanley increased their price objective on shares of Prudential Financial from $113.00 to $117.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $122.08.

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.

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