Charles Schwab Investment Management Inc. Buys 72,696 Shares of Prudential Financial, Inc. (NYSE:PRU)

Charles Schwab Investment Management Inc. boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,346,612 shares of the financial services provider’s stock after buying an additional 72,696 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.65% of Prudential Financial worth $243,367,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRU. Morgan Stanley raised its holdings in shares of Prudential Financial by 0.9% in the 3rd quarter. Morgan Stanley now owns 6,317,338 shares of the financial services provider’s stock valued at $599,452,000 after purchasing an additional 57,531 shares in the last quarter. Northern Trust Corp grew its position in shares of Prudential Financial by 4.8% in the 3rd quarter. Northern Trust Corp now owns 4,353,086 shares of the financial services provider’s stock worth $413,064,000 after buying an additional 197,422 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Prudential Financial by 9,281.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after buying an additional 1,354,248 shares during the last quarter. FMR LLC grew its position in shares of Prudential Financial by 2.9% in the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock worth $124,801,000 after buying an additional 36,599 shares during the last quarter. Finally, Mariner LLC grew its position in shares of Prudential Financial by 5.5% in the 3rd quarter. Mariner LLC now owns 1,172,081 shares of the financial services provider’s stock worth $111,219,000 after buying an additional 61,624 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this link. In other news, SVP Robert Axel sold 6,436 shares of the business’s 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 in the company, valued at approximately $883,805.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the senior vice president now owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. Insiders have sold a total of 29,255 shares of company stock worth $3,215,664 in the last three months. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PRU shares. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Morgan Stanley boosted their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Evercore ISI lifted their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Finally, Piper Sandler decreased their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $111.08.

Prudential Financial Stock Up 0.4 %

Shares of NYSE:PRU opened at $116.72 on Thursday. The firm’s 50 day moving average price is $112.48 and its 200 day moving average price is $104.78. The stock has a market cap of $41.90 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35. Prudential Financial, Inc. has a fifty-two week low of $77.87 and a fifty-two week high of $118.69. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business’s revenue for the quarter was up 69.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.66 earnings per share. As a group, equities research analysts predict that Prudential Financial, Inc. will post 13.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be given a $1.30 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.46%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

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.