Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Advisory Services Network LLC

Advisory Services Network LLC boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 20.8% during the 1st quarter, Holdings Channel reports. The fund owned 59,934 shares of the financial services provider’s stock after acquiring an additional 10,321 shares during the quarter. Advisory Services Network LLC’s holdings in Prudential Financial were worth $7,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PRU. Schroder Investment Management Group increased its position in Prudential Financial by 1.7% in the 3rd quarter. Schroder Investment Management Group now owns 68,174 shares of the financial services provider’s stock valued at $6,469,000 after acquiring an additional 1,136 shares during the period. Toroso Investments LLC increased its position in shares of Prudential Financial by 68.0% during the 3rd quarter. Toroso Investments LLC now owns 8,289 shares of the financial services provider’s stock valued at $787,000 after purchasing an additional 3,355 shares during the period. Harbour Investments Inc. increased its position in shares of Prudential Financial by 5.1% during the 3rd quarter. Harbour Investments Inc. now owns 4,280 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 206 shares during the period. Integrated Advisors Network LLC increased its position in shares of Prudential Financial by 19.7% during the 3rd quarter. Integrated Advisors Network LLC now owns 5,740 shares of the financial services provider’s stock valued at $545,000 after purchasing an additional 943 shares during the period. Finally, Comerica Bank acquired a new position in shares of Prudential Financial during the 3rd quarter valued at $7,365,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the transaction, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Prudential Financial from $120.00 to $123.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Piper Sandler lowered their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Keefe, Bruyette & Woods raised their price objective on Prudential Financial from $118.00 to $121.00 and gave the stock a “market perform” rating in a research note on Monday. Finally, Jefferies Financial Group reduced their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $116.67.

Prudential Financial Stock Up 1.3 %

PRU traded up $1.55 during trading on Friday, reaching $123.93. 211,315 shares of the stock traded hands, compared to its average volume of 1,450,290. The stock has a market cap of $44.49 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 0.90 and a beta of 1.34. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $123.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s 50-day simple moving average is $117.67 and its two-hundred day simple moving average is $111.80.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same quarter last year, the business earned $2.66 earnings per share. Prudential Financial’s quarterly revenue was up 69.9% on a year-over-year basis. As a group, equities research analysts expect that Prudential Financial, Inc. will post 13.4 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were paid a $1.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.20%. Prudential Financial’s payout ratio is presently 88.44%.

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.