Capital Advisors Inc. OK reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 34.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299,287 shares of the financial services provider’s stock after selling 160,321 shares during the period. Capital Advisors Inc. OK’s holdings in Prudential Financial were worth $32,302,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Jessup Wealth Management Inc purchased a new position in Prudential Financial during the fourth quarter worth $25,000. Archer Investment Corp purchased a new stake in shares of Prudential Financial in the second quarter valued at $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Prudential Financial in the fourth quarter valued at $26,000. SJS Investment Consulting Inc. boosted its stake in shares of 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 acquiring an additional 134 shares during the last quarter. Finally, Coston McIsaac & Partners increased its position in Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.
Analyst Ratings Changes
A number of research firms have issued reports on PRU. Morgan Stanley upped their target price on shares of Prudential Financial from $92.00 to $105.00 and gave the company an “underweight” rating in a report on Monday, August 24th. Mizuho lifted their price target on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Barclays boosted their price objective on shares of Prudential Financial from $90.00 to $92.00 and gave the company an “underweight” rating in a research report on Tuesday, July 7th. Piper Sandler upped their price objective on shares of Prudential Financial from $110.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Prudential Financial from $113.00 to $123.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Prudential Financial has an average rating of “Reduce” and a consensus target price of $109.31.
Prudential Financial Stock Performance
NYSE PRU opened at $119.80 on Friday. The business’s 50-day moving average price is $117.95 and its 200 day moving average price is $106.27. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $127.72. The company has a market capitalization of $41.33 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 2.25 and a beta of 0.84.
Prudential Financial (NYSE:PRU – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $14.36 billion. During the same quarter in the previous year, the business earned $3.58 EPS. On average, research analysts predict that Prudential Financial, Inc. will post 14.51 earnings per share for the current year.
Prudential Financial Dividend Announcement
The business also recently announced 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. This represents a $5.60 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, August 25th. Prudential Financial’s payout ratio is presently 50.72%.
Insider Activity at Prudential Financial
In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ann M. Kappler sold 7,652 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the transaction, the executive vice president directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their position. The SEC filing for this sale provides additional information. Corporate 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.
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