Charles Schwab Investment Management Inc. Grows Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Charles Schwab Investment Management Inc. grew its holdings in Prudential Financial, Inc. (NYSE:PRUGet Rating) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,996,930 shares of the financial services provider’s stock after purchasing an additional 101,760 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.59% of Prudential Financial worth $649,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRU. Equitec Proprietary Markets LLC purchased a new position in shares of Prudential Financial during the fourth quarter worth $25,000. Ibex Wealth Advisors purchased a new position in Prudential Financial during the 3rd quarter valued at about $28,000. FSB Premier Wealth Management Inc. purchased a new stake in Prudential Financial during the fourth quarter worth about $29,000. McIlrath & Eck LLC lifted its position in shares of Prudential Financial by 79.4% during the third quarter. McIlrath & Eck LLC now owns 278 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 123 shares in the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Prudential Financial in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 56.77% of the company’s stock.

PRU has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on shares of Prudential Financial in a research report on Tuesday, January 25th. They issued an “underperform” rating and a $93.00 price target for the company. Credit Suisse Group downgraded Prudential Financial from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $131.00 to $121.00 in a report on Friday, March 25th. Wolfe Research began coverage on Prudential Financial in a research note on Friday, January 21st. They issued a “market perform” rating and a $131.00 price objective for the company. Piper Sandler raised their target price on shares of Prudential Financial from $118.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, April 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $113.00 to $120.00 in a report on Tuesday, April 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $114.46.

In other Prudential Financial news, EVP Andrew F. Sullivan sold 2,951 shares of the business’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $113.35, for a total transaction of $334,495.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 2,231 shares of the company’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $106.28, for a total transaction of $237,110.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,182 shares of company stock valued at $791,087. 0.31% of the stock is owned by insiders.

NYSE PRU traded down $2.70 during trading on Thursday, reaching $98.89. The company’s stock had a trading volume of 27,268 shares, compared to its average volume of 2,083,178. The business’s fifty day moving average price is $113.08 and its 200-day moving average price is $111.41. Prudential Financial, Inc. has a twelve month low of $94.51 and a twelve month high of $124.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market cap of $37.08 billion, a price-to-earnings ratio of 8.24, a P/E/G ratio of 0.96 and a beta of 1.48.

Prudential Financial (NYSE:PRUGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The financial services provider reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.50. Prudential Financial had a return on equity of 9.35% and a net margin of 8.09%. The company had revenue of $13.66 billion during the quarter, compared to analysts’ expectations of $13.93 billion. During the same period last year, the firm earned $4.11 EPS. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 11.7 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Tuesday, May 24th will be paid a $1.20 dividend. The ex-dividend date is Monday, May 23rd. This represents a $4.80 annualized dividend and a yield of 4.85%. Prudential Financial’s dividend payout ratio is currently 38.93%.

Prudential Financial Company Profile (Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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

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