Ieq Capital LLC Raises Holdings in Prudential Financial, Inc. (NYSE:PRU)

Ieq Capital LLC lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,434 shares of the financial services provider’s stock after buying an additional 2,100 shares during the quarter. Ieq Capital LLC’s holdings in Prudential Financial were worth $2,512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creekmur Asset Management LLC grew its stake in shares of Prudential Financial by 78.8% during 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 purchased a new position in Prudential Financial in the second quarter valued at about $29,000. Strategic Financial Concepts LLC lifted its position in shares of Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 25,027 shares during the period. Crewe Advisors LLC purchased a new stake in shares of Prudential Financial during the 1st quarter worth approximately $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial in the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $121.36 on Friday. The business has a fifty day simple moving average of $117.83 and a 200-day simple moving average of $116.34. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52. The company has a market cap of $43.57 billion, a P/E ratio of 20.64, a P/E/G ratio of 0.91 and a beta of 1.30. 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 (NYSE:PRU) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS 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. Equities research analysts forecast that Prudential Financial, Inc. will post 13.31 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.28%. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction 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 directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

PRU has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Morgan Stanley lowered their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective for the company in a research note on Monday, August 12th. Finally, Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $120.83.

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.