Brighton Jones LLC Acquires 103 Shares of Prudential Financial, Inc. (NYSE:PRU)

Brighton Jones LLC grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.0% during the second quarter, HoldingsChannel.com reports. The fund owned 3,536 shares of the financial services provider’s stock after buying an additional 103 shares during the quarter. Brighton Jones LLC’s holdings in Prudential Financial were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PRU. Creekmur Asset Management LLC grew its position in Prudential Financial by 78.8% in the 1st 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 period. Lynx Investment Advisory bought a new stake in shares of Prudential Financial in the second quarter worth $29,000. Crewe Advisors LLC purchased a new stake in Prudential Financial during the first quarter valued at $33,000. ESL Trust Services LLC purchased a new position in Prudential Financial in the first quarter worth about $34,000. Finally, Riverview Trust Co bought a new stake in shares of Prudential Financial during the 1st quarter valued at about $37,000. 56.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PRU shares. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Morgan Stanley cut their price objective 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Jefferies Financial Group cut their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Wells Fargo & Company raised Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $120.83.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 sale, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Prudential Financial Stock Down 0.4 %

NYSE PRU opened at $121.36 on Friday. The company has a current ratio of 0.13, a quick 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 stock’s 50 day moving average is $117.83 and its 200 day moving average is $116.34. The stock has a market cap of $43.57 billion, a PE ratio of 20.64, a P/E/G ratio of 0.91 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last issued its earnings results 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 company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Research analysts predict that Prudential Financial, Inc. will post 13.31 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.28%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Prudential Financial 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.