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

Cambridge Investment Research Advisors Inc. lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.2% in the first quarter, HoldingsChannel reports. The firm owned 104,725 shares of the financial services provider’s stock after buying an additional 2,228 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Prudential Financial were worth $11,696,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new position in Prudential Financial during the 1st quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new position in Prudential Financial during the 4th quarter worth approximately $34,000. Lee Danner & Bass Inc. acquired a new position in Prudential Financial during the 4th quarter worth approximately $35,000. TCTC Holdings LLC acquired a new position in Prudential Financial during the 4th quarter worth approximately $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Prudential Financial during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PRU shares. JPMorgan Chase & Co. lowered their price target on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Piper Sandler lowered their price target on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Barclays reduced their price objective on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. UBS Group reduced their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, May 27th. Finally, Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average target price of $120.15.

Prudential Financial Stock Up 0.7%

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

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating 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 the consensus estimate of $14.76 billion. During the same quarter in the prior year, the firm earned $3.12 EPS. Prudential Financial’s revenue for the quarter was down 38.2% on a year-over-year basis. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.08%. Prudential Financial’s payout ratio is currently 85.58%.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the business’s stock in a transaction on Monday, June 16th. The stock was bought at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the transaction, the insider now owns 3,168,461 shares in the company, valued at $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.25% of the stock is 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.