Brown Advisory Inc. Has $449,000 Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Brown Advisory Inc. lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 36.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,024 shares of the financial services provider’s stock after selling 2,267 shares during the period. Brown Advisory Inc.’s holdings in Prudential Financial were worth $449,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of Prudential Financial by 3.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider’s stock worth $2,320,000 after acquiring an additional 721 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Prudential Financial by 728.4% during the first quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 743 shares during the period. Exchange Traded Concepts LLC grew 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 valued at $279,000 after purchasing an additional 222 shares during the period. Bridgewater Associates LP boosted its stake 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 valued at $46,031,000 after buying an additional 114,459 shares during the period. Finally, Sound Income Strategies LLC boosted its stake 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 valued at $3,954,000 after buying an additional 2,913 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 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 completion of the transaction, the insider owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. The trade was a 112.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $102.99 on Wednesday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $36.46 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. The company’s fifty day moving average price is $105.31 and its 200-day moving average price is $108.65.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same period in the prior year, the business earned $3.12 EPS. The firm’s quarterly revenue was down 38.2% on a year-over-year basis. On average, equities research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.24%. The ex-dividend date was Tuesday, May 20th. Prudential Financial’s payout ratio is 85.58%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group dropped their price target on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday, May 27th. JPMorgan Chase & Co. increased their price target on Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Barclays raised their target price on Prudential Financial from $109.00 to $119.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. Morgan Stanley cut their price target on Prudential Financial from $117.00 to $113.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $121.85.

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.