Pacer Advisors Inc. Has $4.17 Million Stake in Prudential Financial, Inc. $PRU

Pacer Advisors Inc. trimmed its stake in Prudential Financial, Inc. (NYSE:PRU) by 14.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,916 shares of the financial services provider’s stock after selling 6,416 shares during the quarter. Pacer Advisors Inc.’s holdings in Prudential Financial were worth $4,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. VCI Wealth Management LLC boosted its position in Prudential Financial by 117.1% during the fourth quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider’s stock valued at $2,178,000 after purchasing an additional 10,404 shares during the last quarter. KBC Group NV increased its position in Prudential Financial by 94.3% in the 4th quarter. KBC Group NV now owns 157,538 shares of the financial services provider’s stock worth $17,783,000 after purchasing an additional 76,461 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich raised its stake in shares of Prudential Financial by 2,669.0% during the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 46,990 shares of the financial services provider’s stock worth $5,342,000 after purchasing an additional 45,293 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. lifted its holdings in shares of Prudential Financial by 846.7% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 25,921 shares of the financial services provider’s stock valued at $2,926,000 after buying an additional 23,183 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Prudential Financial by 9.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 171,486 shares of the financial services provider’s stock valued at $19,357,000 after buying an additional 14,327 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Piper Sandler raised their price objective on shares of Prudential Financial from $99.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Jefferies Financial Group lowered shares of Prudential Financial from a “buy” rating to a “hold” rating and dropped their price target for the stock from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Argus downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Mizuho lifted their price objective on shares of Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research raised shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Eleven equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $101.50.

Prudential Financial Stock Up 1.6%

Shares of Prudential Financial stock opened at $108.25 on Tuesday. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average price of $101.78 and a two-hundred day moving average price of $104.31. The stock has a market capitalization of $37.56 billion, a P/E ratio of 11.14, a PEG ratio of 1.94 and a beta of 0.86.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The company had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same quarter last year, the firm posted $3.29 earnings per share. Equities analysts expect that Prudential Financial, Inc. will post 13.78 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 5.2%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s dividend payout ratio (DPR) is 57.61%.

Prudential Financial 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.