Raelipskie Partnership Acquires 500 Shares of Prudential Financial, Inc. $PRU

Raelipskie Partnership grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.4% during the second quarter, Holdings Channel reports. The firm owned 11,906 shares of the financial services provider’s stock after purchasing an additional 500 shares during the period. Raelipskie Partnership’s holdings in Prudential Financial were worth $1,279,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PRU. Modera Wealth Management LLC boosted its stake in shares of Prudential Financial by 2.3% during the 2nd quarter. Modera Wealth Management LLC now owns 13,094 shares of the financial services provider’s stock worth $1,407,000 after acquiring an additional 293 shares in the last quarter. Long Run Wealth Advisors LLC lifted its holdings in Prudential Financial by 7.1% in the 2nd quarter. Long Run Wealth Advisors LLC now owns 14,200 shares of the financial services provider’s stock worth $1,526,000 after purchasing an additional 937 shares during the last quarter. Andra AP fonden acquired a new position in Prudential Financial during the second quarter valued at approximately $599,000. Resona Asset Management Co. Ltd. raised its position in shares of Prudential Financial by 6.1% in the second quarter. Resona Asset Management Co. Ltd. now owns 121,734 shares of the financial services provider’s stock valued at $13,073,000 after purchasing an additional 6,948 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in Prudential Financial in the 2nd quarter valued at $76,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Prudential Financial stock opened at $105.27 on Friday. The business’s fifty day moving average is $103.82 and its two-hundred day moving average is $104.45. The firm has a market cap of $36.84 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. The firm had revenue of $8.35 billion during the quarter. Equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s payout ratio is 74.18%.

Insider Buying and Selling at Prudential Financial

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PRU shares. Piper Sandler cut their target price on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. Wolfe Research began coverage on Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Wells Fargo & Company lowered their target price on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus price target of $120.73.

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.