HighTower Advisors LLC lessened its stake in Prudential Financial Inc (NYSE:PRU) by 20.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,692 shares of the financial services provider’s stock after selling 8,556 shares during the quarter. HighTower Advisors LLC’s holdings in Prudential Financial were worth $1,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of PRU. Victory Capital Management Inc. raised its position in shares of Prudential Financial by 5.1% in the 4th quarter. Victory Capital Management Inc. now owns 333,739 shares of the financial services provider’s stock worth $31,285,000 after purchasing an additional 16,267 shares during the last quarter. FMR LLC raised its position in Prudential Financial by 10.5% in the 4th quarter. FMR LLC now owns 907,690 shares of the financial services provider’s stock worth $85,087,000 after buying an additional 86,494 shares during the last quarter. Global Financial Private Capital Inc raised its position in Prudential Financial by 4,312.5% in the 4th quarter. Global Financial Private Capital Inc now owns 353 shares of the financial services provider’s stock worth $33,000 after buying an additional 345 shares during the last quarter. Assetmark Inc. raised its position in Prudential Financial by 464.6% in the 4th quarter. Assetmark Inc. now owns 50,580 shares of the financial services provider’s stock worth $4,741,000 after buying an additional 41,621 shares during the last quarter. Finally, Korea Investment CORP raised its position in Prudential Financial by 7.2% in the 4th quarter. Korea Investment CORP now owns 344,518 shares of the financial services provider’s stock worth $32,295,000 after buying an additional 23,100 shares during the last quarter. 60.59% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the company. B. Riley decreased their target price on Prudential Financial from $70.00 to $57.00 and set a “neutral” rating for the company in a research report on Tuesday, April 21st. JPMorgan Chase & Co. decreased their target price on Prudential Financial from $108.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Bank of America decreased their target price on Prudential Financial from $71.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Piper Sandler lowered Prudential Financial from an “overweight” rating to a “neutral” rating in a research report on Wednesday, May 6th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $64.00 price target on shares of Prudential Financial in a research report on Wednesday, May 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $79.71.

PRU stock opened at $59.20 on Tuesday. Prudential Financial Inc has a 1-year low of $38.62 and a 1-year high of $103.56. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $22.95 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 0.70 and a beta of 1.68. The business has a 50 day simple moving average of $60.85 and a two-hundred day simple moving average of $72.34.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.52). Prudential Financial had a return on equity of 7.13% and a net margin of 5.16%. The firm had revenue of $13.33 billion for the quarter, compared to analysts’ expectations of $14.81 billion. During the same period last year, the company earned $3.00 earnings per share. Sell-side analysts anticipate that Prudential Financial Inc will post 9.19 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Tuesday, May 26th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date of this dividend was Friday, May 22nd. Prudential Financial’s payout ratio is 37.64%.

Prudential Financial Company Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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