Foster & Motley Inc. Has $5.94 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Foster & Motley Inc. boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,155 shares of the financial services provider’s stock after acquiring an additional 803 shares during the period. Foster & Motley Inc.’s holdings in Prudential Financial were worth $5,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its position in shares of Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 111 shares during the period. North Capital Inc. bought a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $28,000. Opal Wealth Advisors LLC bought a new position in shares of Prudential Financial during the 1st quarter worth approximately $30,000. Park Place Capital Corp lifted its position in shares of Prudential Financial by 1,841.2% during the 1st quarter. Park Place Capital Corp now owns 330 shares of the financial services provider’s stock worth $37,000 after buying an additional 313 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Prudential Financial in the 4th quarter valued at $38,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Down 0.3%

Shares of PRU stock opened at $103.46 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $36.62 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.02 and a beta of 1.07. The firm has a 50 day moving average price of $104.90 and a two-hundred day moving average price of $107.65. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. The firm had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The business’s revenue for the quarter was down 38.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.12 earnings per share. As a group, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were given a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.22%. Prudential Financial’s dividend payout ratio (DPR) is currently 85.58%.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the business’s stock in a transaction on Monday, June 16th. The shares were acquired at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the transaction, the insider owned 3,168,461 shares of the company’s stock, valued at $90,744,723.04. The trade was a 112.29% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Wall Street Zen cut Prudential Financial from a “hold” rating to a “sell” rating in a report on Saturday, July 5th. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company decreased their price objective on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 16th. Finally, UBS Group cut their price target on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $121.75.

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.