Yousif Capital Management LLC Has $6.02 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Yousif Capital Management LLC lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,006 shares of the financial services provider’s stock after selling 2,269 shares during the period. Yousif Capital Management LLC’s holdings in Prudential Financial were worth $6,016,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PRU. International Assets Investment Management LLC grew its stake in Prudential Financial by 9,281.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock valued at $141,962,000 after acquiring an additional 1,354,248 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Prudential Financial in the third quarter valued at approximately $34,251,000. abrdn plc lifted its holdings in shares of Prudential Financial by 37.5% in the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock valued at $114,829,000 after purchasing an additional 302,164 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Prudential Financial by 39.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,004,087 shares of the financial services provider’s stock valued at $95,278,000 after purchasing an additional 282,667 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Prudential Financial by 80.6% in the third quarter. AQR Capital Management LLC now owns 562,875 shares of the financial services provider’s stock valued at $53,411,000 after purchasing an additional 251,269 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Evercore ISI raised their target price on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $118.00 target price (down previously from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Morgan Stanley lifted their price target on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Raymond James lowered Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Finally, UBS Group lifted their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.42.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $111.18 on Friday. The stock has a market cap of $39.91 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37. Prudential Financial, Inc. has a fifty-two week low of $77.22 and a fifty-two week high of $118.69. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a fifty day moving average of $111.68 and a 200-day moving average of $103.61.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The business had revenue of $13.02 billion for the quarter, compared to analysts’ expectations of $12.99 billion. During the same quarter in the previous year, the firm earned $2.42 earnings per share. Prudential Financial’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.68%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, February 16th. Prudential Financial’s payout ratio is presently 77.73%.

Insider Buying and Selling

In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now owns 7,901 shares of the company’s stock, valued at $883,805.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the sale, the senior vice president now owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock worth $3,215,664 over the last ninety days. 0.31% of the stock is owned by corporate insiders.

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.