Quotient Wealth Partners LLC Increases Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Quotient Wealth Partners LLC increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,424 shares of the financial services provider’s stock after buying an additional 92 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Prudential Financial were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PRU. Creekmur Asset Management LLC boosted its stake in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after buying an additional 108 shares during the period. Lynx Investment Advisory purchased a new position in shares of Prudential Financial during the second quarter worth $29,000. Crewe Advisors LLC acquired a new stake in shares of Prudential Financial in the first quarter valued at $33,000. ESL Trust Services LLC purchased a new stake in shares of Prudential Financial in the 1st quarter valued at $34,000. Finally, Riverview Trust Co acquired a new position in Prudential Financial in the 1st quarter valued at about $37,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Stock Up 1.9 %

Prudential Financial stock opened at $117.41 on Friday. The company has a market capitalization of $42.15 billion, a P/E ratio of 19.97, a PEG ratio of 0.89 and a beta of 1.34. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The stock has a 50-day simple moving average of $117.80 and a 200-day simple moving average of $114.87.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Equities research analysts expect that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRU. Citigroup increased their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Morgan Stanley decreased their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. UBS Group boosted their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Piper Sandler reduced their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Finally, Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $119.33.

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.