30,281 Shares in Prudential Financial, Inc. $PRU Bought by Meritage Portfolio Management

Meritage Portfolio Management acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,281 shares of the financial services provider’s stock, valued at approximately $3,253,000.

A number of other large investors have also made changes to their positions in PRU. Brighton Jones LLC lifted its position in shares of Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 133 shares during the period. GAMMA Investing LLC lifted its position in shares of Prudential Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider’s stock worth $868,000 after acquiring an additional 145 shares during the period. NorthCrest Asset Manangement LLC boosted its stake in Prudential Financial by 3.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider’s stock worth $306,000 after buying an additional 101 shares in the last quarter. Goldstone Financial Group LLC boosted its stake in Prudential Financial by 7.9% during the first quarter. Goldstone Financial Group LLC now owns 4,049 shares of the financial services provider’s stock worth $452,000 after buying an additional 295 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Prudential Financial by 3.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 79,888 shares of the financial services provider’s stock worth $8,922,000 after buying an additional 2,623 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the transaction, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Wolfe Research assumed coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Barclays lowered their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their target price on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a report on Wednesday, July 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $122.27.

Prudential Financial Price Performance

NYSE:PRU opened at $99.08 on Monday. The firm has a market cap of $34.88 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The company’s 50-day moving average price is $105.15 and its two-hundred day moving average price is $104.40. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The business had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. On average, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.5%. Prudential Financial’s dividend payout ratio (DPR) is 119.73%.

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.