Level Four Advisory Services LLC Buys 1,241 Shares of Prudential Financial, Inc. $PRU

Level Four Advisory Services LLC raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,207 shares of the financial services provider’s stock after purchasing an additional 1,241 shares during the quarter. Level Four Advisory Services LLC’s holdings in Prudential Financial were worth $2,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PRU. Northern Trust Corp lifted its position in Prudential Financial by 23.7% during the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock valued at $555,513,000 after purchasing an additional 897,916 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Prudential Financial by 11,280.3% during the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider’s stock worth $96,923,000 after acquiring an additional 860,239 shares in the last quarter. Nuveen LLC bought a new stake in shares of Prudential Financial in the 1st quarter worth approximately $90,010,000. Goldman Sachs Group Inc. lifted its holdings in shares of Prudential Financial by 19.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock worth $469,777,000 after acquiring an additional 678,028 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Prudential Financial by 11.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider’s stock worth $404,230,000 after acquiring an additional 352,335 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Trading Up 0.8%

NYSE:PRU opened at $107.0670 on Thursday. The company has a fifty day moving average of $105.03 and a 200 day moving average of $106.07. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $37.69 billion, a P/E ratio of 23.74, a P/E/G ratio of 0.95 and a beta of 1.07.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. During the same period in the prior year, the business posted $3.39 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. On average, research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, August 19th. Prudential Financial’s payout ratio is presently 119.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PRU shares. Morgan Stanley boosted their price objective on shares of Prudential Financial from $113.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday. Piper Sandler lowered their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Barclays boosted their price objective on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $122.08.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction on Monday, June 16th. The shares were acquired at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the transaction, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company’s stock.

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.