HBK Sorce Advisory LLC bought a new position in Prudential Financial, Inc. (NYSE:PRU – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 7,335 shares of the financial services provider’s stock, valued at approximately $881,000.
Several other large investors have also recently made changes to their positions in the business. Jessup Wealth Management Inc purchased a new stake in shares of Prudential Financial in the 4th quarter valued at $25,000. Garton & Associates Financial Advisors LLC purchased a new position in Prudential Financial in the 4th quarter worth $26,000. Salomon & Ludwin LLC lifted its stake in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 114 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in Prudential Financial by 93.1% during the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after buying an additional 134 shares during the period. Finally, Coston McIsaac & Partners boosted its position in Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after buying an additional 128 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have recently commented on PRU shares. BMO Capital Markets decreased their price objective on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a report on Thursday, April 23rd. Zacks Research upgraded Prudential Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Jefferies Financial Group lifted their price target on Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their price objective on Prudential Financial from $113.00 to $123.00 and gave the company a “market perform” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley reissued an “underweight” rating and set a $92.00 price objective (down from $106.00) on shares of Prudential Financial in a research note on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Reduce” and a consensus price target of $107.62.
Prudential Financial Stock Performance
Prudential Financial stock opened at $125.05 on Monday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. The firm has a market cap of $43.14 billion, a P/E ratio of 11.33, a P/E/G ratio of 2.38 and a beta of 0.84. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $127.72. The firm has a 50-day moving average of $114.94 and a 200-day moving average of $105.21.
Prudential Financial (NYSE:PRU – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. During the same quarter in the previous year, the business earned $3.58 EPS. Sell-side analysts expect that Prudential Financial, Inc. will post 14.17 EPS for the current year.
Prudential Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 annualized dividend and a yield of 4.5%. Prudential Financial’s payout ratio is 50.72%.
Insider Transactions at Prudential Financial
In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the transaction, the insider directly owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. The trade was a 2.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.05% of the company’s stock.
Prudential Financial Profile
Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.
Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.
Featured Stories
- Five stocks we like better than Prudential Financial
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU – Free Report).
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.
