Pathstone Holdings LLC Purchases 17,498 Shares of Prudential Financial, Inc. (NYSE:PRU)

Pathstone Holdings LLC lifted its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 23.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 91,755 shares of the financial services provider's stock after purchasing an additional 17,498 shares during the quarter. Pathstone Holdings LLC's holdings in Prudential Financial were worth $10,876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PRU. Barclays PLC lifted its holdings in shares of Prudential Financial by 11.0% during the 3rd quarter. Barclays PLC now owns 1,062,776 shares of the financial services provider's stock valued at $128,700,000 after buying an additional 105,089 shares during the last quarter. Capital Investment Advisors LLC grew its stake in shares of Prudential Financial by 9.7% in the fourth quarter. Capital Investment Advisors LLC now owns 3,736 shares of the financial services provider's stock worth $443,000 after acquiring an additional 331 shares during the last quarter. Wedmont Private Capital raised its position in shares of Prudential Financial by 3.0% during the fourth quarter. Wedmont Private Capital now owns 3,622 shares of the financial services provider's stock valued at $415,000 after buying an additional 106 shares during the last quarter. Accurate Wealth Management LLC increased its position in shares of Prudential Financial by 7.7% during the fourth quarter. Accurate Wealth Management LLC now owns 6,738 shares of the financial services provider's stock valued at $772,000 after purchasing an additional 482 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its position in shares of Prudential Financial by 5.8% during the 4th quarter. SeaCrest Wealth Management LLC now owns 4,448 shares of the financial services provider's stock valued at $527,000 after acquiring an additional 242 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Prudential Financial stock traded down $1.82 during midday trading on Wednesday, reaching $104.05. 413,565 shares of the company's stock were exchanged, compared to its average volume of 1,614,494. The stock's 50-day simple moving average is $104.77 and its 200 day simple moving average is $113.77. The firm has a market cap of $36.83 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The business had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. During the same period last year, the firm posted $3.12 EPS. The firm's revenue for the quarter was down 38.2% compared to the same quarter last year. On average, 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, June 12th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $1.35 per share. The ex-dividend date is Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.19%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the purchase, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PRU. BMO Capital Markets began coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 target price on the stock. Piper Sandler reduced their price objective on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. JPMorgan Chase & Co. cut their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company raised their price target on Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Barclays lowered their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $121.08.

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.