Prudential Financial, Inc. $PRU Shares Purchased by Steward Partners Investment Advisory LLC

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Prudential Financial by 8.6% in the 1st quarter, owning 43,974 shares valued at approximately $4.91 million.
• Prudential Financial reported $3.58 EPS for the quarter, exceeding analysts' expectations by $0.36, despite a 2.5% year-over-year revenue decline.
• The company announced a quarterly dividend of $1.35 per share, reflecting an annualized dividend of $5.40 and a yield of 5.1% following a 119.73% dividend payout ratio.

Steward Partners Investment Advisory LLC boosted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 8.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,974 shares of the financial services provider's stock after buying an additional 3,496 shares during the period. Steward Partners Investment Advisory LLC's holdings in Prudential Financial were worth $4,911,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted 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 buying an additional 721 shares during the last quarter. Golden State Wealth Management LLC boosted its position in Prudential Financial by 728.4% in the first quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock valued at $94,000 after buying an additional 743 shares during the last quarter. HighTower Advisors LLC boosted its position in Prudential Financial by 68.2% in the first quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider's stock valued at $12,373,000 after buying an additional 44,937 shares during the last quarter. 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 during the last quarter. Finally, Sound Income Strategies LLC boosted its position in Prudential Financial by 9.0% in the 1st quarter. Sound Income Strategies LLC now owns 35,408 shares of the financial services provider's stock worth $3,954,000 after purchasing an additional 2,913 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Price Performance

PRU stock traded up $2.63 during midday trading on Friday, reaching $109.80. The stock had a trading volume of 1,957,163 shares, compared to its average volume of 1,771,471. The company's fifty day simple moving average is $105.21 and its 200 day simple moving average is $105.94. 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 company has a market cap of $38.65 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 0.95 and a beta of 1.07. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week 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, beating analysts' consensus estimates of $3.22 by $0.36. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.39 EPS. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.9%. Prudential Financial's dividend payout ratio (DPR) is 119.73%.

Analyst Upgrades and Downgrades

PRU has been the topic of several recent research reports. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley upped their price objective 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. Barclays upped their price objective on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Wells Fargo & Company lowered their price objective on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. upped their target price on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $122.08.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 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, with a total value of $48,000,009.92. Following the purchase, the insider directly owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

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.