Dana Investment Advisors Inc. Has $2.50 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Dana Investment Advisors Inc. boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,365 shares of the financial services provider’s stock after buying an additional 150 shares during the period. Dana Investment Advisors Inc.’s holdings in Prudential Financial were worth $2,504,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PRU. Vanguard Group Inc. lifted its position 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 valued at $4,386,192,000 after acquiring an additional 5,154,865 shares in the last quarter. Legal & General Group Plc boosted its position 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 worth $415,134,000 after buying an additional 305,143 shares during the period. 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 in the last quarter. Federated Hermes Inc. lifted its stake in 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 in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Prudential Financial by 7.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock worth $108,788,000 after acquiring an additional 62,578 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target on the stock in a research note on Monday, August 12th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. 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 issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $121.33.

Prudential Financial Stock Performance

Shares of PRU opened at $118.97 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The company’s fifty day moving average price is $117.03 and its 200 day moving average price is $116.83. The company has a market capitalization of $42.47 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). The business had revenue of $13.84 billion for 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%. As a group, analysts expect that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, 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 value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,648,705.05. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.