UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $377.30 Million Position 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 reduced its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 approximately 0.95% of Prudential Financial worth $377,299,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Prudential Financial by 3.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider's stock worth $2,320,000 after acquiring an additional 721 shares during the period. Golden State Wealth Management LLC grew its holdings in Prudential Financial by 728.4% during the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 743 shares in the last quarter. HighTower Advisors LLC increased its stake in Prudential Financial by 68.2% during the 1st quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider's stock worth $12,373,000 after buying an additional 44,937 shares during the period. Exchange Traded Concepts LLC boosted its position in Prudential Financial by 9.7% in the 1st 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 grew its stake in shares of Prudential Financial by 9.0% during the first quarter. Sound Income Strategies LLC now owns 35,408 shares of the financial services provider's stock valued at $3,954,000 after acquiring an additional 2,913 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Price Performance

NYSE PRU traded down $3.49 on Tuesday, hitting $101.96. 730,503 shares of the company's stock were exchanged, compared to its average volume of 1,746,035. The stock has a 50-day moving average of $105.59 and a 200-day moving average of $105.37. The stock has a market cap of $35.89 billion, a price-to-earnings ratio of 22.59, a P/E/G 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. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

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, topping 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 business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.47 billion. During the same period in the prior year, the company earned $3.39 EPS. Prudential Financial's revenue for the quarter was down 2.5% on a year-over-year basis. Analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.3%. Prudential Financial's dividend payout ratio is presently 119.73%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president owned 21,506 shares of the company's stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler reduced their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. UBS Group cut their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. JPMorgan Chase & Co. boosted their price objective on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Morgan Stanley lifted their target price 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. Finally, Barclays boosted their price objective on shares of Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $122.08.

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.