First Trust Advisors LP Buys 122,616 Shares of Prudential Financial, Inc. (NYSE:PRU)

First Trust Advisors LP raised its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 20.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 711,628 shares of the financial services provider's stock after buying an additional 122,616 shares during the quarter. First Trust Advisors LP owned 0.20% of Prudential Financial worth $84,349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Grove Bank & Trust grew its position in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Prudential Financial in the 4th quarter valued at $29,000. CGC Financial Services LLC lifted its position in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 124 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial during the 4th quarter worth $33,000. Finally, Hopwood Financial Services Inc. bought a new position in shares of Prudential Financial in the fourth quarter worth $34,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Shares of PRU opened at $96.79 on Tuesday. The business has a 50-day moving average of $107.41 and a 200-day moving average of $116.68. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $34.30 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 5.58%. Prudential Financial's dividend payout ratio (DPR) is 72.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PRU shares. Barclays reduced their price objective on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Morgan Stanley decreased their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Piper Sandler lowered their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, Wells Fargo & Company lowered their target price on Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $121.85.

Insider Activity

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the acquisition, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. This represents a 60.18 % increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is owned by company insiders.

Prudential Financial 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.

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