MAI Capital Management Has $802,000 Stake in Prudential Financial, Inc. $PRU

MAI Capital Management raised its position in Prudential Financial, Inc. (NYSE:PRU) by 10.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,465 shares of the financial services provider’s stock after acquiring an additional 703 shares during the quarter. MAI Capital Management’s holdings in Prudential Financial were worth $802,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PRU. Brighton Jones LLC grew its holdings in Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 133 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of Prudential Financial by 10.2% in the first quarter. Avantax Advisory Services Inc. now owns 22,404 shares of the financial services provider’s stock valued at $2,502,000 after buying an additional 2,065 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Prudential Financial by 12.4% in the first quarter. Cetera Investment Advisers now owns 189,314 shares of the financial services provider’s stock valued at $21,143,000 after buying an additional 20,914 shares during the last quarter. Mediolanum International Funds Ltd boosted its stake in shares of Prudential Financial by 48.7% during the 1st quarter. Mediolanum International Funds Ltd now owns 56,859 shares of the financial services provider’s stock worth $6,258,000 after acquiring an additional 18,618 shares during the period. Finally, TD Asset Management Inc increased its holdings in shares of Prudential Financial by 0.4% during the 1st quarter. TD Asset Management Inc now owns 448,738 shares of the financial services provider’s stock worth $50,115,000 after acquiring an additional 1,710 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PRU shares. Morgan Stanley raised their price target on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wolfe Research assumed coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. Barclays lowered their price target on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Prudential Financial in a research report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $120.73.

Prudential Financial Price Performance

NYSE:PRU opened at $107.11 on Tuesday. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The firm’s 50-day simple moving average is $103.52 and its 200 day simple moving average is $104.79. The firm has a market cap of $37.49 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) 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 for the quarter. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders 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 yield of 5.0%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

Insider Buying and Selling at Prudential Financial

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the transaction, the chairman owned 165,564 shares of the company’s stock, valued at $17,779,917.96. The trade was a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The SEC filing for this sale provides additional information. 0.25% of the stock is 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.