Mountain Pacific Investment Advisers Inc. ID Invests $216,000 in Prudential Financial, Inc. (NYSE:PRU)

Mountain Pacific Investment Advisers Inc. ID bought a new position in Prudential Financial, Inc. (NYSE:PRU) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,840 shares of the financial services provider’s stock, valued at approximately $216,000.

Several other institutional investors have also recently made changes to their positions in PRU. Cambridge Trust Co. grew its stake in shares of Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth $26,000. Headinvest LLC bought a new position in Prudential Financial during the third quarter valued at about $27,000. Arlington Trust Co LLC grew its position in Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after buying an additional 185 shares during the period. Finally, Pineridge Advisors LLC bought a new position in Prudential Financial during the fourth quarter valued at about $36,000. Institutional investors own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were 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 of the company’s stock, valued at $1,426,472.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were 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 of the company’s stock, valued at $1,426,472.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the transaction, the executive vice president now owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Prudential Financial Trading Up 0.6 %

Shares of Prudential Financial stock opened at $117.73 on Monday. Prudential Financial, Inc. has a 12-month low of $83.34 and a 12-month high of $121.39. The company has a market cap of $42.27 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 0.88 and a beta of 1.35. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $115.44 and its 200-day moving average price is $110.39.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The firm had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company’s quarterly revenue was up 69.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.66 earnings per share. On average, equities analysts expect that Prudential Financial, Inc. will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PRU shares. Jefferies Financial Group upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $121.00 to $143.00 in a research report on Wednesday, May 22nd. Morgan Stanley increased their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods increased their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler dropped their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Wells Fargo & Company upped their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.25.

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.