Eagle Capital Management LLC Has $3.59 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Eagle Capital Management LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,105 shares of the financial services provider’s stock after selling 837 shares during the quarter. Prudential Financial comprises 0.0% of Eagle Capital Management LLC’s portfolio, making the stock its 20th largest position. Eagle Capital Management LLC’s holdings in Prudential Financial were worth $3,591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cowa LLC lifted its position in Prudential Financial by 9,930.2% in the 1st quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock valued at $912,000 after acquiring an additional 764,129 shares in the last quarter. Mariner LLC lifted its position in Prudential Financial by 2,197.4% in the 1st quarter. Mariner LLC now owns 690,184 shares of the financial services provider’s stock valued at $81,560,000 after acquiring an additional 660,142 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Prudential Financial by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider’s stock valued at $750,839,000 after acquiring an additional 356,957 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in Prudential Financial by 102.9% in the 3rd quarter. AustralianSuper Pty Ltd now owns 496,298 shares of the financial services provider’s stock valued at $42,572,000 after acquiring an additional 251,751 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Prudential Financial by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 31,654,749 shares of the financial services provider’s stock valued at $2,715,345,000 after acquiring an additional 168,175 shares in the last quarter. 56.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRU has been the topic of several research reports. StockNews.com started coverage on shares of Prudential Financial in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. 92 Resources reiterated a “maintains” rating on shares of Prudential Financial in a research note on Thursday, May 4th. Royal Bank of Canada lowered their price target on shares of Prudential Financial from $99.00 to $89.00 in a research note on Thursday, May 4th. Barclays lowered their price target on shares of Prudential Financial from $104.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 12th. Finally, Piper Sandler restated a “neutral” rating and set a $106.00 price objective on shares of Prudential Financial in a research note on Wednesday, February 8th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $99.83.

Prudential Financial Trading Down 1.4 %

PRU opened at $80.35 on Thursday. Prudential Financial, Inc. has a twelve month low of $75.37 and a twelve month high of $110.96. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average of $84.57 and a 200-day moving average of $96.20. The stock has a market cap of $29.33 billion, a PE ratio of 892.78, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38.

Prudential Financial (NYSE:PRU – Get Rating) last issued its earnings results on Tuesday, May 2nd. The financial services provider reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.02 by ($0.36). Prudential Financial had a return on equity of 14.05% and a net margin of 0.09%. The company had revenue of $15.10 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the prior year, the company earned $3.17 earnings per share. On average, sell-side analysts predict that Prudential Financial, Inc. will post 12.04 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Tuesday, May 23rd will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 6.22%. Prudential Financial’s dividend payout ratio (DPR) is presently 5,555.56%.

Prudential Financial announced that its board has authorized a share repurchase plan on Tuesday, February 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Andrew F. Sullivan sold 11,405 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $100.95, for a total transaction of $1,151,334.75. Following the completion of the transaction, the executive vice president now owns 12,300 shares of the company’s stock, valued at $1,241,685. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Andrew F. Sullivan sold 4,126 shares of Prudential Financial stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $99.20, for a total value of $409,299.20. Following the transaction, the executive vice president now directly owns 12,241 shares of the company’s stock, valued at $1,214,307.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrew F. Sullivan sold 11,405 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $100.95, for a total transaction of $1,151,334.75. Following the transaction, the executive vice president now directly owns 12,300 shares in the company, valued at $1,241,685. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.

Prudential Financial Profile

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Prudential Financial, Inc engages in the provision of insurance, investment management, and other financial products and services to both individual and institutional customers. It operates through the following segments: PGIM, U.S. Businesses, International Businesses, Closed Block, and Corporate and Others.