Prudential Financial, Inc. (NYSE:PRU) Stock Holdings Increased by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,947 shares of the financial services provider’s stock after buying an additional 123 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Prudential Financial were worth $1,283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRU. Daiwa Securities Group Inc. grew its holdings in shares of Prudential Financial by 9.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 39,511 shares of the financial services provider’s stock valued at $4,630,000 after acquiring an additional 3,454 shares in the last quarter. Royal London Asset Management Ltd. raised its stake in shares of Prudential Financial by 10.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 159,321 shares of the financial services provider’s stock worth $18,671,000 after purchasing an additional 14,849 shares in the last quarter. Choreo LLC lifted its holdings in shares of Prudential Financial by 155.6% during the 2nd quarter. Choreo LLC now owns 21,833 shares of the financial services provider’s stock valued at $2,566,000 after buying an additional 13,290 shares during the last quarter. Prudential PLC grew its stake in shares of Prudential Financial by 9.3% in the 2nd quarter. Prudential PLC now owns 167,573 shares of the financial services provider’s stock valued at $19,638,000 after buying an additional 14,209 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Prudential Financial during the second quarter valued at approximately $65,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. UBS Group increased their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Barclays started coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 target price on the stock. Citigroup upped their price target on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price objective on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Morgan Stanley decreased their target price on 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $120.83.

Prudential Financial Price Performance

NYSE:PRU opened at $114.72 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The company has a 50-day moving average of $117.95 and a 200-day moving average of $115.82. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52. The company has a market capitalization of $41.18 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 0.88 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last released 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). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.31 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business 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 of this dividend is Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.53%. Prudential Financial’s dividend payout ratio is currently 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.