Vanguard Personalized Indexing Management LLC Acquires 11,039 Shares of Prudential Financial, Inc. $PRU

Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 21.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,916 shares of the financial services provider’s stock after purchasing an additional 11,039 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Prudential Financial were worth $6,653,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRU. Nuveen LLC bought a new stake in Prudential Financial during the 1st quarter valued at approximately $90,010,000. Goldman Sachs Group Inc. raised its stake in Prudential Financial by 19.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock valued at $469,777,000 after purchasing an additional 678,028 shares during the period. Amundi raised its stake in Prudential Financial by 14.1% during the 1st quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after purchasing an additional 216,119 shares during the period. AQR Capital Management LLC increased its stake in Prudential Financial by 72.8% in the 1st quarter. AQR Capital Management LLC now owns 424,659 shares of the financial services provider’s stock worth $46,789,000 after acquiring an additional 178,888 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Prudential Financial by 2.7% in the 1st quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock worth $495,859,000 after acquiring an additional 116,079 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PRU shares. JPMorgan Chase & Co. lifted their price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Wells Fargo & Company reduced their price objective on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 16th. Piper Sandler reduced their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. Finally, Barclays reduced their price objective on 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. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $122.27.

Prudential Financial Price Performance

PRU opened at $101.22 on Tuesday. The business has a fifty day moving average of $105.14 and a 200 day moving average of $104.34. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The stock has a market cap of $35.63 billion, a P/E ratio of 22.44, a PEG ratio of 0.88 and a beta of 1.04.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The company had revenue of $8.35 billion during the quarter. As a group, sell-side analysts anticipate 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 was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.3%. Prudential Financial’s payout ratio is presently 119.73%.

Insider Transactions at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

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.