Groupe la Francaise Purchases 6,325 Shares of Prudential Financial, Inc. $PRU

Groupe la Francaise lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 7.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,165 shares of the financial services provider’s stock after acquiring an additional 6,325 shares during the period. Groupe la Francaise’s holdings in Prudential Financial were worth $8,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Jessup Wealth Management Inc bought a new stake in Prudential Financial in the fourth quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $26,000. Salomon & Ludwin LLC increased its stake in shares of Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 114 shares in the last quarter. Lodestone Wealth Management LLC bought a new stake in shares of Prudential Financial in the 4th quarter valued at $28,000. Finally, Basepoint Wealth LLC acquired a new position in shares of Prudential Financial during the 4th quarter valued at $30,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $122.86 on Friday. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $124.57. 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 business has a 50 day moving average price of $110.50 and a 200-day moving average price of $104.41. The company has a market cap of $42.63 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.44 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.52. The company had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the previous year, the firm earned $3.29 earnings per share. Equities analysts anticipate that Prudential Financial, Inc. will post 13.83 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were paid a $1.40 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 4.6%. Prudential Financial’s dividend payout ratio is presently 57.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Morgan Stanley restated an “underweight” rating and issued a $92.00 price target (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Piper Sandler increased their price objective on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. boosted their target price on Prudential Financial from $117.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Mizuho upped their price target on Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Barclays raised their price objective on Prudential Financial from $90.00 to $92.00 and gave the company an “underweight” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $105.46.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the sale, the insider owned 7,973,657 shares in the company, valued at $197,348,010.75. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.05% of the stock is currently owned by corporate insiders.

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.