Northwestern Mutual Wealth Management Co. Purchases 1,340 Shares of Prudential Financial, Inc. (NYSE:PRU)

Northwestern Mutual Wealth Management Co. increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,354 shares of the financial services provider’s stock after acquiring an additional 1,340 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Prudential Financial were worth $4,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Annex Advisory Services LLC increased its stake in shares of Prudential Financial by 3.4% in the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 81 shares during the last quarter. Raymond James Trust N.A. grew its position in Prudential Financial by 1.1% in the second quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after acquiring an additional 87 shares during the last quarter. Peoples Bank OH lifted its holdings in shares of Prudential Financial by 2.3% in the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 90 shares during the last quarter. Quotient Wealth Partners LLC boosted its stake in shares of Prudential Financial by 3.9% in the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 92 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Prudential Financial by 1.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 94 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the firm’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 value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the business’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 value of $322,027.77. Following the sale, 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. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PRU. Barclays started coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group dropped their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $121.33.

Prudential Financial Stock Down 0.0 %

Shares of NYSE:PRU opened at $118.90 on Friday. The business’s 50-day moving average is $116.95 and its 200-day moving average is $116.84. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The company has a market capitalization of $42.69 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 0.96 and a beta of 1.30. 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 (NYSE:PRU) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Equities research analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders 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 dividend yield of 4.37%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

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.