Stephens Inc. AR Sells 4,838 Shares of Prudential Financial, Inc. (NYSE:PRU)

Stephens Inc. AR cut its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 10.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,494 shares of the financial services provider's stock after selling 4,838 shares during the quarter. Stephens Inc. AR's holdings in Prudential Financial were worth $4,746,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. North Capital Inc. acquired a new stake in shares of Prudential Financial during the first quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Prudential Financial during the first quarter worth approximately $30,000. Lee Danner & Bass Inc. acquired a new stake in shares of Prudential Financial during the fourth quarter worth approximately $35,000. TCTC Holdings LLC acquired a new stake in shares of Prudential Financial during the fourth quarter worth approximately $37,000. Finally, Park Place Capital Corp increased its position in Prudential Financial by 1,841.2% in the 1st quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock worth $37,000 after purchasing an additional 313 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PRU. Wall Street Zen lowered Prudential Financial from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Morgan Stanley reduced their price target on Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating for the company in a report on Monday. UBS Group reduced their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their price target on Prudential Financial from $113.00 to $116.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $121.85.

Prudential Financial Stock Performance

Shares of PRU stock traded down $2.52 during trading hours on Tuesday, reaching $102.99. 1,577,875 shares of the company's stock were exchanged, compared to its average volume of 1,662,982. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The stock has a market capitalization of $36.46 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.01 and a beta of 1.07. The business has a fifty day moving average price of $105.28 and a 200-day moving average price of $108.69. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same period in the previous year, the company earned $3.12 earnings per share. The company's quarterly revenue was down 38.2% compared to the same quarter last year. Analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.24%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the transaction, the insider owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

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.