Vident Advisory LLC Boosts Stock Position in Prudential Financial, Inc. $PRU

Key Points

• Vident Advisory LLC significantly increased its stake in Prudential Financial, Inc. by 240.0%, acquiring a total of 20,274 shares valued at $2,264,000.
• Prudential Financial reported a quarterly earnings per share (EPS) of $3.58, surpassing analysts' expectations, despite a 2.5% year-over-year decline in revenue.
• The company declared a quarterly dividend of $1.35 per share, with an annualized yield of 4.9%, although its dividend payout ratio stands at 119.73%.

Vident Advisory LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 240.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,274 shares of the financial services provider's stock after purchasing an additional 14,311 shares during the period. Vident Advisory LLC's holdings in Prudential Financial were worth $2,264,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Meeder Asset Management Inc. grew its position in Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 111 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $26,000. North Capital Inc. bought a new stake in shares of Prudential Financial during the 1st quarter valued at approximately $28,000. AlphaQuest LLC grew its holdings in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 245 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in Prudential Financial in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Trading Down 3.0%

NYSE PRU traded down $3.22 during mid-day trading on Friday, reaching $105.62. 1,633,016 shares of the stock were exchanged, compared to its average volume of 1,452,813. The stock has a market cap of $37.18 billion, a P/E ratio of 23.42, a P/E/G ratio of 0.94 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. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The stock has a 50 day simple moving average of $105.88 and a 200-day simple moving average of $105.61.

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

Prudential Financial Announces Dividend

The business 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 dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, August 19th. Prudential Financial's payout ratio is presently 119.73%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the firm's stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Company insiders own 0.25% of the company's stock.

Prudential Financial 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.