Accel Wealth Management Has $1.18 Million Stake in Prudential Financial, Inc. $PRU

Accel Wealth Management lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,018 shares of the financial services provider’s stock after buying an additional 778 shares during the quarter. Accel Wealth Management’s holdings in Prudential Financial were worth $1,184,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PRU. Nuveen LLC acquired a new stake in shares of Prudential Financial during the 1st quarter worth approximately $90,010,000. Goldman Sachs Group Inc. boosted 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 worth $469,777,000 after acquiring an additional 678,028 shares during the last quarter. Amundi boosted 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 worth $183,571,000 after acquiring an additional 216,119 shares during the last quarter. AQR Capital Management LLC boosted its stake in Prudential Financial by 72.8% during 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. boosted its stake in Prudential Financial by 2.7% during 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 and hedge funds own 56.83% of the company’s stock.

Insider Activity

In related news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $104.01 on Friday. The company has a market cap of $36.61 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 0.92 and a beta of 1.04. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company’s fifty day simple moving average is $105.19 and its 200 day simple moving average is $104.84. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same period in the previous year, the company earned $3.39 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s payout ratio is presently 119.73%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PRU. Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Piper Sandler reduced their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Morgan Stanley lifted their price objective on shares of Prudential Financial from $113.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, August 18th. JPMorgan Chase & Co. lifted their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a research note on Saturday, September 27th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $122.08.

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.