Twin Focus Capital Partners LLC Makes New $296,000 Investment in Prudential Financial, Inc. $PRU

Key Points

• Twin Focus Capital Partners LLC has invested approximately $296,000 in Prudential Financial, acquiring 2,650 shares during the first quarter.
• Institutional investors own 56.83% of Prudential Financial's stock, with notable changes in holdings, including a 90.2% increase from Meeder Asset Management.
• Prudential Financial previously reported earnings per share of $3.58 for the last quarter, surpassing the consensus estimate, and declared a dividend of $1.35 per share set to be paid in September.

Twin Focus Capital Partners LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,650 shares of the financial services provider's stock, valued at approximately $296,000.

Several other hedge funds also recently bought and sold shares of PRU. Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of Prudential Financial by 4.4% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 5,956 shares of the financial services provider's stock worth $665,000 after buying an additional 249 shares during the period. Ethic Inc. lifted its holdings in shares of Prudential Financial by 4.0% in the 1st quarter. Ethic Inc. now owns 54,251 shares of the financial services provider's stock worth $6,059,000 after buying an additional 2,102 shares during the period. Horizon Investments LLC lifted its holdings in shares of Prudential Financial by 3.6% in the 1st quarter. Horizon Investments LLC now owns 6,614 shares of the financial services provider's stock worth $739,000 after buying an additional 228 shares during the period. Providence Capital Advisors LLC lifted its holdings in shares of Prudential Financial by 1.2% in the 1st quarter. Providence Capital Advisors LLC now owns 28,107 shares of the financial services provider's stock worth $3,139,000 after buying an additional 325 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Prudential Financial by 740.5% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 100,684 shares of the financial services provider's stock worth $11,244,000 after buying an additional 88,705 shares during the period. Institutional investors own 56.83% of the company's stock.

Prudential Financial Trading Up 1.0%

Prudential Financial stock traded up $1.04 during trading on Wednesday, reaching $107.29. 918,879 shares of the company were exchanged, compared to its average volume of 1,772,202. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a market capitalization of $37.77 billion, a P/E ratio of 23.84, a PEG ratio of 0.95 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The stock's 50 day simple moving average is $104.98 and its two-hundred day simple moving average is $106.07.

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

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Tuesday, August 19th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. Prudential Financial's dividend payout ratio (DPR) is presently 119.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler decreased their price objective on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. UBS Group cut their price objective on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Wells Fargo & Company dropped their target price on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. Morgan Stanley increased their price target on Prudential Financial from $113.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price target on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of "Hold" and a consensus target price of $122.08.

Insider Transactions at Prudential Financial

In other Prudential Financial 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 bought at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the purchase, the insider directly owned 3,168,461 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently 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.