Park Place Capital Corp Has $37,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Park Place Capital Corp boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1,841.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 330 shares of the financial services provider’s stock after buying an additional 313 shares during the quarter. Park Place Capital Corp’s holdings in Prudential Financial were worth $37,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Tepp RIA LLC acquired a new stake in shares of Prudential Financial in the first quarter worth $345,000. Perigon Wealth Management LLC lifted its position in shares of Prudential Financial by 666.2% in the 1st quarter. Perigon Wealth Management LLC now owns 41,797 shares of the financial services provider’s stock worth $4,668,000 after acquiring an additional 36,342 shares during the period. Tyche Wealth Partners LLC boosted its stake in Prudential Financial by 7.4% during the first quarter. Tyche Wealth Partners LLC now owns 5,296 shares of the financial services provider’s stock worth $591,000 after buying an additional 363 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of Prudential Financial during the 1st quarter worth about $65,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Prudential Financial by 1,652.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,787 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 1,685 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the transaction, the insider now directly owns 3,168,461 shares in the company, valued at $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Prudential Financial Trading Up 0.3%

Shares of NYSE PRU opened at $107.07 on Friday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a market cap of $37.90 billion, a PE ratio of 16.97, a P/E/G ratio of 1.02 and a beta of 1.07. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $104.09 and a two-hundred day moving average of $109.68.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same period in the previous year, the firm posted $3.12 earnings per share. The company’s revenue was down 38.2% on a year-over-year basis. As a group, equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date was Tuesday, May 20th. Prudential Financial’s dividend payout ratio is presently 85.58%.

Analyst Ratings Changes

PRU has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley raised their price objective on shares of Prudential Financial from $108.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Keefe, Bruyette & Woods reduced their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a report on Wednesday, May 7th. Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Monday, June 16th. Finally, Piper Sandler cut their price target on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $120.15.

About Prudential Financial

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.