Bogart Wealth LLC Has $11.23 Million Holdings in Prudential Financial, Inc. $PRU

Bogart Wealth LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,491 shares of the financial services provider’s stock after acquiring an additional 4,062 shares during the quarter. Bogart Wealth LLC’s holdings in Prudential Financial were worth $11,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 111 shares in the last quarter. Cheviot Value Management LLC bought a new position in shares of Prudential Financial in the 1st quarter valued at about $26,000. North Capital Inc. bought a new position in shares of Prudential Financial in the 1st quarter valued at about $28,000. AlphaQuest LLC boosted its stake in shares of Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 245 shares during the last quarter. Finally, Clearstead Trust LLC boosted its stake in shares of Prudential Financial by 350.8% in the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.9%

Prudential Financial stock opened at $100.76 on Monday. The company’s 50 day simple moving average is $105.06 and its 200 day simple moving average is $104.10. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The firm has a market capitalization of $35.47 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 0.89 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last released 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 2.75% and a return on equity of 15.80%. The business had revenue of $8.35 billion for the quarter. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.4%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is 119.73%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. 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 target price 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. Barclays reduced their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $122.27.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were 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 in the company, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Prudential Financial Company 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.