Silver Lake Advisory LLC Purchases Shares of 2,836 Prudential Financial, Inc. (NYSE:PRU)

Silver Lake Advisory LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,836 shares of the financial services provider’s stock, valued at approximately $332,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after purchasing an additional 5,154,865 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after buying an additional 305,143 shares in the last quarter. AustralianSuper Pty Ltd grew its holdings in shares of Prudential Financial by 2.8% during the second quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock valued at $145,027,000 after buying an additional 34,160 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Prudential Financial by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock worth $120,181,000 after acquiring an additional 82,620 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Prudential Financial by 7.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock valued at $108,788,000 after acquiring an additional 62,578 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.2 %

Shares of PRU stock opened at $120.81 on Monday. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average of $117.29 and a 200-day moving average of $116.70. The firm has a market cap of $43.37 billion, a P/E ratio of 20.55, a PEG ratio of 0.95 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 (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.30%. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Transactions at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the company’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 sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Ann M. Kappler sold 2,839 shares of the 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 sale, the executive vice president now 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 is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the firm’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 approximately $1,220,694.75. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the subject of several analyst reports. Citigroup increased their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Argus upgraded Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. UBS Group upped their target price 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. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, 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 report on Monday, August 12th. 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 stock. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $120.83.

About Prudential Financial

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.