Y Intercept Hong Kong Ltd Makes New $3.10 Million Investment in Prudential Financial, Inc. (NYSE:PRU)

Y Intercept Hong Kong Ltd purchased a new position in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,783 shares of the financial services provider's stock, valued at approximately $3,103,000.

Other institutional investors have also modified their holdings of the company. Altman Advisors Inc. grew its stake in shares of Prudential Financial by 0.6% during the fourth quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock worth $1,907,000 after purchasing an additional 94 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Prudential Financial by 7.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,506 shares of the financial services provider's stock worth $179,000 after purchasing an additional 98 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Prudential Financial by 3.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider's stock worth $306,000 after purchasing an additional 101 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Prudential Financial by 0.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 12,927 shares of the financial services provider's stock worth $1,443,000 after purchasing an additional 103 shares in the last quarter. Finally, Providence Capital Advisors LLC grew its stake in shares of Prudential Financial by 0.4% during the fourth quarter. Providence Capital Advisors LLC now owns 27,782 shares of the financial services provider's stock worth $3,293,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Performance

Shares of NYSE:PRU traded up $0.62 on Friday, reaching $104.93. The company's stock had a trading volume of 321,940 shares, compared to its average volume of 1,762,370. The stock has a market capitalization of $37.14 billion, a P/E ratio of 16.62, a PEG ratio of 1.04 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 stock's 50-day moving average is $105.08 and its two-hundred day moving average is $108.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.11. The firm had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The firm's revenue for the quarter was down 38.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.12 earnings per share. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.15%. Prudential Financial's dividend payout ratio is currently 85.58%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was purchased 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 of the company's stock, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PRU. JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Wall Street Zen cut shares of Prudential Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Morgan Stanley reduced their price target on shares of Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Finally, Piper Sandler reduced their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential Financial presently has an average rating of "Hold" and an average target price of $121.75.

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.