Callan Family Office LLC Takes $211,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Callan Family Office LLC purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 1,803 shares of the financial services provider’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PRU. Creekmur Asset Management LLC boosted its holdings 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 purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory bought a new stake in Prudential Financial during the second quarter worth $29,000. Crewe Advisors LLC bought a new stake in Prudential Financial during the first quarter worth $33,000. ESL Trust Services LLC bought a new stake in Prudential Financial during the first quarter worth $34,000. Finally, Riverview Trust Co bought a new stake in Prudential Financial during the first quarter worth $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PRU shares. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a research report on Monday, August 12th. Jefferies Financial Group dropped their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Citigroup increased their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $119.33.

Insider Activity

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

Prudential Financial Trading Up 0.5 %

Shares of Prudential Financial stock opened at $118.01 on Tuesday. The company has a market capitalization of $42.37 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 0.89 and a beta of 1.34. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The firm’s 50-day moving average price is $117.87 and its two-hundred day moving average price is $114.98.

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

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.41%. Prudential Financial’s payout ratio is 88.44%.

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.