UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Lowers Holdings in Prudential Financial, Inc. $PRU

Key Points

• UBS Asset Management decreased its holdings in Prudential Financial by 0.9% during the first quarter, owning 3,378,395 shares worth approximately $377 million after selling 31,968 shares.
• Prudential Financial recently announced a quarterly dividend of $1.35 per share, translating to an annualized dividend of $5.40 and a yield of 5.1%.
• Analyst ratings for Prudential Financial show one buy rating, nine holds, and one sell, with an average target price set at $122.08.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC decreased its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 0.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,378,395 shares of the financial services provider's stock after selling 31,968 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.95% of Prudential Financial worth $377,299,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PRU. Brighton Jones LLC lifted its holdings in Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock worth $436,000 after buying an additional 133 shares during the period. Focus Partners Wealth lifted its holdings in Prudential Financial by 12.1% during the fourth quarter. Focus Partners Wealth now owns 17,131 shares of the financial services provider's stock worth $2,181,000 after buying an additional 1,846 shares during the period. Gotham Asset Management LLC lifted its holdings in Prudential Financial by 24.5% during the fourth quarter. Gotham Asset Management LLC now owns 54,463 shares of the financial services provider's stock worth $6,455,000 after buying an additional 10,727 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Prudential Financial by 38.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,280 shares of the financial services provider's stock worth $10,580,000 after buying an additional 24,801 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its holdings in Prudential Financial by 20.0% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 15,029 shares of the financial services provider's stock worth $1,781,000 after buying an additional 2,505 shares during the period. Hedge funds and other institutional investors own 56.83% of the company's stock.

Analyst Ratings Changes

PRU has been the subject of a number of analyst reports. Piper Sandler lowered their target price on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Barclays increased their price objective on Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Wells Fargo & Company decreased their price objective on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. UBS Group decreased their price objective on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Finally, Morgan Stanley increased their price objective on Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $122.08.

Prudential Financial Price Performance

NYSE PRU opened at $105.73 on Thursday. 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 fifty day moving average price is $105.72 and its 200 day moving average price is $105.59. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a market cap of $37.22 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 0.94 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $3.39 EPS. The firm's revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Tuesday, August 19th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, August 19th. Prudential Financial's dividend payout ratio is presently 119.73%.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company's stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 shares were bought 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 $90,744,723.04. This trade represents a 112.29% increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.