Richards Merrill & Peterson Inc. Increases Holdings in Prudential Financial, Inc. $PRU

Richards Merrill & Peterson Inc. grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,080 shares of the financial services provider’s stock after acquiring an additional 232 shares during the quarter. Richards Merrill & Peterson Inc.’s holdings in Prudential Financial were worth $331,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after buying an additional 133 shares during the last quarter. GAMMA Investing LLC boosted its stake in Prudential Financial by 1.9% during the 1st quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider’s stock valued at $868,000 after purchasing an additional 145 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Prudential Financial by 1,652.0% in the first quarter. Golden State Wealth Management LLC now owns 1,787 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 1,685 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Prudential Financial by 666.2% during the first quarter. Perigon Wealth Management LLC now owns 41,797 shares of the financial services provider’s stock valued at $4,668,000 after purchasing an additional 36,342 shares in the last quarter. Finally, Tepp RIA LLC bought a new stake in Prudential Financial in the 1st quarter worth about $345,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred 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 directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

Prudential Financial Stock Up 0.5%

Shares of PRU opened at $102.23 on Friday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $35.99 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The business’s 50 day moving average is $104.68 and its 200 day moving average is $104.20.

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

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

A number of analysts have recently commented on PRU shares. JPMorgan Chase & Co. lifted their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. Wells Fargo & Company cut their target price on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 16th. Piper Sandler decreased their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $122.27.

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.