MBB Public Markets I LLC Invests $319,000 in Prudential Financial, Inc. $PRU

MBB Public Markets I LLC bought a new position in Prudential Financial, Inc. (NYSE:PRU) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,852 shares of the financial services provider’s stock, valued at approximately $319,000.

Several other large investors have also recently made changes to their positions in the company. Invesco Ltd. increased its holdings in shares of Prudential Financial by 2.7% in the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock worth $495,859,000 after purchasing an additional 116,079 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Prudential Financial by 19.2% during the first 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Prudential Financial by 11.5% during the fourth 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. Ameriprise Financial Inc. increased its stake in Prudential Financial by 5.6% during the first quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider’s stock worth $201,201,000 after acquiring an additional 95,021 shares during the last quarter. Finally, Amundi increased its stake in Prudential Financial by 14.1% during the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock worth $183,571,000 after acquiring an additional 216,119 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Down 0.3%

Shares of NYSE:PRU opened at $105.56 on Wednesday. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The business has a 50 day simple moving average of $105.78 and a two-hundred day simple moving average of $105.59. The firm has a market capitalization of $37.16 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 0.94 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

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

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Tuesday, August 19th will be issued a $1.35 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.1%. Prudential Financial’s payout ratio is presently 119.73%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. UBS Group reduced their price objective 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. Piper Sandler reduced their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Barclays boosted their price objective on Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Finally, Wall Street Zen raised Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. One 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $122.08.

Insider Buying and Selling

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