Benin Management CORP Buys 558 Shares of Prudential Financial, Inc. $PRU

Benin Management CORP boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,418 shares of the financial services provider’s stock after buying an additional 558 shares during the period. Prudential Financial makes up about 0.5% of Benin Management CORP’s investment portfolio, making the stock its 29th largest holding. Benin Management CORP’s holdings in Prudential Financial were worth $1,979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRU. Brighton Jones LLC increased its position in Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after buying an additional 133 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Prudential Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider’s stock worth $868,000 after purchasing an additional 145 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Prudential Financial by 3.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 79,888 shares of the financial services provider’s stock worth $8,922,000 after purchasing an additional 2,623 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Prudential Financial by 2.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 104,725 shares of the financial services provider’s stock worth $11,696,000 after purchasing an additional 2,228 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Prudential Financial by 7.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 175,194 shares of the financial services provider’s stock worth $19,566,000 after purchasing an additional 12,439 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PRU shares. Wolfe Research started coverage on Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Barclays reduced their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Finally, Piper Sandler cut their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $122.27.

Prudential Financial Price Performance

NYSE PRU opened at $101.92 on Wednesday. The company has a market capitalization of $35.87 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. 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 business’s fifty day moving average is $104.96 and its 200 day moving average is $104.12. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The company had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. 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 announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.3%. Prudential Financial’s payout ratio is 119.73%.

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.