Meiji Yasuda Life Insurance Co Buys Shares of 7,310 Prudential Financial, Inc. (NYSE:PRU)

Meiji Yasuda Life Insurance Co purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,310 shares of the financial services provider’s stock, valued at approximately $857,000.

A number of other institutional investors have also modified their holdings of the company. Creekmur Asset Management LLC boosted its holdings in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory purchased a new position in shares of Prudential Financial in the second quarter valued at approximately $29,000. Crewe Advisors LLC acquired a new position in shares of Prudential Financial in the first quarter valued at approximately $33,000. ESL Trust Services LLC purchased a new stake in Prudential Financial during the 1st quarter worth approximately $34,000. Finally, Riverview Trust Co acquired a new stake in Prudential Financial during the 1st quarter worth approximately $37,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on PRU shares. UBS Group upped their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. 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. Morgan Stanley reduced their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Barclays started coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $120.83.

Insider Activity at Prudential Financial

In other news, 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 transaction, 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 filing with the SEC, which is available at the SEC website. In other news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following 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 SEC, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Prudential Financial Stock Up 0.6 %

PRU opened at $119.44 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The business’s 50-day simple moving average is $117.88 and its 200-day simple moving average is $116.15. The stock has a market capitalization of $42.64 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 0.90 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 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The business 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%. Analysts anticipate that Prudential Financial, Inc. will post 13.31 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 issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Prudential Financial 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.