Elo Mutual Pension Insurance Co Lowers Stock Holdings in Prudential Financial, Inc. $PRU

Elo Mutual Pension Insurance Co lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 25.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,765 shares of the financial services provider’s stock after selling 8,245 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Prudential Financial were worth $2,465,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 133 shares during the period. Empowered Funds LLC increased its stake in Prudential Financial by 30.5% in the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after acquiring an additional 4,134 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Prudential Financial by 127.1% in the 2nd quarter. AlphaQuest LLC now owns 561 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 314 shares in the last quarter. Assetmark Inc. boosted its position in shares of Prudential Financial by 122.5% during the 2nd quarter. Assetmark Inc. now owns 3,333 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 1,835 shares during the last quarter. Finally, Simon Quick Advisors LLC purchased a new position in shares of Prudential Financial during the second quarter worth about $224,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 0.0%

Shares of PRU stock opened at $98.78 on Thursday. The business has a 50-day moving average of $108.33 and a 200 day moving average of $107.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $119.76. The stock has a market capitalization of $34.38 billion, a PE ratio of 9.88, a P/E/G ratio of 1.14 and a beta of 0.98.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The company had revenue of $15.69 billion during the quarter, compared to the consensus estimate of $14.48 billion. During the same quarter in the previous year, the firm posted $2.96 EPS. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be issued a $1.40 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $5.60 dividend on an annualized basis and a yield of 5.7%. Prudential Financial’s payout ratio is 56.00%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Piper Sandler raised their price objective on shares of Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Evercore cut their target price on shares of Prudential Financial from $122.00 to $110.00 and set an “in-line” rating for the company in a research report on Thursday, February 5th. Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, UBS Group upped their price objective on Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $115.00.

Insider Transactions at Prudential Financial

In other news, EVP Jacques Chappuis acquired 1,000 shares of the stock in a transaction dated Friday, February 6th. The stock was purchased at an average cost of $100.97 per share, with a total value of $100,970.00. Following the completion of the purchase, the executive vice president owned 1,000 shares in the company, valued at approximately $100,970. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas D. Stoddard bought 250 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the completion of the purchase, the director directly owned 250 shares of the company’s stock, valued at $25,742.50. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 1,408,389 shares of company stock valued at $35,154,439. Company insiders own 0.25% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.