Prudential Financial, Inc. $PRU Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,378,395 shares of the financial services provider’s stock after selling 31,968 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC’s holdings in Prudential Financial were worth $377,299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of Prudential Financial by 11,280.3% during the 1st 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 purchased a new stake in shares of Prudential Financial during the 1st quarter worth about $90,010,000. Goldman Sachs Group Inc. boosted its stake in shares of Prudential Financial by 19.2% during 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Prudential Financial during the 4th quarter worth about $25,796,000. Finally, Prana Capital Management LP purchased a new stake in shares of Prudential Financial during the 4th quarter worth about $25,775,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Up 0.2%

Shares of Prudential Financial stock opened at $105.73 on Thursday. The firm has a market capitalization of $37.22 billion, a PE ratio of 23.44, a P/E/G ratio of 0.94 and a beta of 1.07. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The firm’s 50-day moving average price is $105.72 and its 200 day moving average price is $105.59. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share 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 firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. During the same period last year, the company posted $3.39 EPS. Prudential Financial’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is 119.73%.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This trade represents a 15.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was acquired at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the purchase, the insider directly owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the topic of several recent analyst reports. UBS Group lowered their target price on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 27th. Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Wells Fargo & Company lowered their target price on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 16th. Morgan Stanley raised their price target on shares of Prudential Financial from $113.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, August 18th. Finally, Piper Sandler decreased their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $122.08.

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.