Deutsche Bank AG Has $148.81 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Deutsche Bank AG lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 13.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,255,441 shares of the financial services provider’s stock after selling 194,460 shares during the period. Deutsche Bank AG’s holdings in Prudential Financial were worth $148,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Prudential Financial by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock worth $4,960,547,000 after purchasing an additional 220,671 shares during the period. Geode Capital Management LLC increased its holdings in Prudential Financial by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider’s stock valued at $1,050,635,000 after buying an additional 193,681 shares during the period. Northern Trust Corp raised its position in shares of Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock valued at $555,513,000 after buying an additional 897,916 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Prudential Financial by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock worth $290,906,000 after acquiring an additional 6,938 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Prudential Financial by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider’s stock worth $285,601,000 after acquiring an additional 26,210 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Down 0.1 %

NYSE PRU opened at $103.55 on Friday. The firm has a market capitalization of $36.66 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The business’s 50-day moving average price is $104.89 and its two-hundred day moving average price is $114.61. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same quarter last year, the business earned $3.12 EPS. The company’s revenue was down 38.2% compared to the same quarter last year. On average, analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Tuesday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 85.58%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRU. Piper Sandler cut their target price on Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Morgan Stanley decreased their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. UBS Group decreased their price target on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company raised their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $121.92.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.25% 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.