Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. increased its position in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,725 shares of the financial services provider’s stock after buying an additional 2,228 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Prudential Financial were worth $11,696,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its holdings in Prudential Financial by 9.7% during the first quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider’s stock worth $279,000 after buying an additional 222 shares in the last quarter. Bridgewater Associates LP boosted its holdings in Prudential Financial by 41.8% during the fourth quarter. Bridgewater Associates LP now owns 388,349 shares of the financial services provider’s stock worth $46,031,000 after buying an additional 114,459 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Prudential Financial by 9.0% during the first quarter. Sound Income Strategies LLC now owns 35,408 shares of the financial services provider’s stock worth $3,954,000 after buying an additional 2,913 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Prudential Financial by 69.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 167,360 shares of the financial services provider’s stock worth $19,837,000 after buying an additional 68,705 shares in the last quarter. Finally, Verity & Verity LLC boosted its holdings in Prudential Financial by 3.6% during the first quarter. Verity & Verity LLC now owns 189,321 shares of the financial services provider’s stock worth $21,143,000 after buying an additional 6,620 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

Prudential Financial stock opened at $106.35 on Wednesday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The stock has a market cap of $37.65 billion, a P/E ratio of 16.85, a PEG ratio of 1.01 and a beta of 1.07. The company has a 50-day moving average price of $103.65 and a 200 day moving average price of $109.92. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRUGet Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $14.76 billion. During the same period last year, the business earned $3.12 earnings per share. Prudential Financial’s revenue was down 38.2% compared to the same quarter last year. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date was Tuesday, May 20th. Prudential Financial’s dividend payout ratio is presently 85.58%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Morgan Stanley increased their price objective on shares of Prudential Financial from $108.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. UBS Group decreased their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $120.15.

View Our Latest Research Report on Prudential Financial

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the acquisition, the insider now owns 3,168,461 shares of the company’s stock, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.

Prudential Financial Profile

(Free Report)

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.

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

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