Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by MV Capital Management Inc.

MV Capital Management Inc. raised its position in Prudential Financial, Inc. (NYSE:PRU) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,118 shares of the financial services provider’s stock after purchasing an additional 107 shares during the period. MV Capital Management Inc.’s holdings in Prudential Financial were worth $131,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC grew its stake in Prudential Financial by 218.9% in the 3rd quarter. Lazard Asset Management LLC now owns 18,618 shares of the financial services provider’s stock worth $1,765,000 after acquiring an additional 12,780 shares during the period. AQR Capital Management LLC increased its stake in Prudential Financial by 80.6% in the third quarter. AQR Capital Management LLC now owns 562,875 shares of the financial services provider’s stock valued at $53,411,000 after purchasing an additional 251,269 shares during the last quarter. Truist Financial Corp boosted its stake in Prudential Financial by 2.4% in the 3rd quarter. Truist Financial Corp now owns 754,465 shares of the financial services provider’s stock worth $71,591,000 after buying an additional 17,762 shares during the last quarter. Shelton Capital Management purchased a new stake in Prudential Financial in the 3rd quarter valued at about $215,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Prudential Financial by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 59,635 shares of the financial services provider’s stock valued at $5,659,000 after acquiring an additional 7,978 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

PRU stock opened at $118.55 on Wednesday. The company has a market capitalization of $42.56 billion, a PE ratio of 20.16, a P/E/G ratio of 0.88 and a beta of 1.34. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average is $116.50 and its two-hundred day moving average is $111.05. Prudential Financial, Inc. has a 52-week low of $87.57 and a 52-week high of $121.39.

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

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the acquisition, the insider now directly owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the acquisition, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PRU. Evercore ISI boosted their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. upped their price objective on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their target price on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley boosted their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Piper Sandler reduced their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $115.92.

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.