Stevens Capital Management LP Boosts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Key Points

• Stevens Capital Management LP significantly increased its holdings in Prudential Financial, boosting their position by 340.3% in the first quarter, acquiring a total of 11,856 shares worth approximately $1.3 million.
• Recent analyst ratings show a mix of opinions on Prudential Financial, with the consensus rating being "Hold" and a target price averaging $121.75.
• Prudential Financial announced a quarterly dividend of $1.35 per share, yielding around 5.17%, with the payout ratio currently at 85.58%.

Stevens Capital Management LP increased its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 340.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,856 shares of the financial services provider's stock after purchasing an additional 9,163 shares during the quarter. Stevens Capital Management LP's holdings in Prudential Financial were worth $1,324,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Brighton Jones LLC raised its holdings in Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock valued at $436,000 after acquiring an additional 133 shares during the period. Proficio Capital Partners LLC bought a new stake in Prudential Financial during the 4th quarter valued at $253,000. Sei Investments Co. raised its holdings in Prudential Financial by 12.6% during the 4th quarter. Sei Investments Co. now owns 82,464 shares of the financial services provider's stock valued at $9,774,000 after acquiring an additional 9,196 shares during the period. Congress Wealth Management LLC DE raised its holdings in Prudential Financial by 49.6% during the 4th quarter. Congress Wealth Management LLC DE now owns 3,242 shares of the financial services provider's stock valued at $384,000 after acquiring an additional 1,075 shares during the period. Finally, Modern Wealth Management LLC raised its holdings in Prudential Financial by 13.7% during the 4th quarter. Modern Wealth Management LLC now owns 3,975 shares of the financial services provider's stock valued at $446,000 after acquiring an additional 478 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

PRU traded up $0.09 during trading on Tuesday, reaching $103.84. The stock had a trading volume of 602,064 shares, compared to its average volume of 1,758,723. The stock has a market cap of $36.76 billion, a PE ratio of 16.46, a PEG ratio of 1.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.17 and a current ratio of 0.17. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The business has a 50-day moving average of $104.95 and a 200-day moving average of $107.68.

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

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.20%. Prudential Financial's payout ratio is 85.58%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the business's stock in a transaction on Monday, June 16th. The stock was 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 directly owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This represents a 112.29% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group lowered their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. JPMorgan Chase & Co. upped their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Piper Sandler decreased their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Morgan Stanley decreased their price target on shares of Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating on the stock in a report on Monday, July 14th. Finally, Wells Fargo & Company decreased 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential Financial presently has a consensus rating of "Hold" and a consensus target price of $121.75.

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.