Oliver Lagore Vanvalin Investment Group Acquires 262 Shares of Prudential Financial, Inc. (NYSE:PRU)

Oliver Lagore Vanvalin Investment Group lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 163.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 422 shares of the financial services provider’s stock after acquiring an additional 262 shares during the period. Oliver Lagore Vanvalin Investment Group’s holdings in Prudential Financial were worth $49,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cullinan Associates Inc. grew its stake in shares of Prudential Financial by 2,355.0% in the first quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock valued at $17,798,000 after buying an additional 145,423 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Prudential Financial by 44.9% in the first quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after buying an additional 71,274 shares in the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Prudential Financial in the fourth quarter valued at $1,087,000. Nomura Holdings Inc. bought a new position in shares of Prudential Financial in the fourth quarter valued at $761,000. Finally, Brookstone Capital Management grew its stake in shares of Prudential Financial by 1,635.0% in the first quarter. Brookstone Capital Management now owns 87,201 shares of the financial services provider’s stock valued at $10,237,000 after buying an additional 82,175 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Up 0.2 %

PRU opened at $120.81 on Friday. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. 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 market capitalization of $43.13 billion, a P/E ratio of 20.55, a P/E/G ratio of 0.95 and a beta of 1.30. The stock has a fifty day moving average of $117.29 and a 200-day moving average of $116.67.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results 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). The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. On average, equities analysts expect that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Analysts Set New Price Targets

PRU has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Barclays initiated coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective for the company. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Morgan Stanley reduced 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. Finally, Jefferies Financial Group reduced their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $120.83.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly 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 insiders.

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.