Sei Investments Co. Increases Stake in Prudential Financial, Inc. (NYSE:PRU)

Sei Investments Co. increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 14.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,187 shares of the financial services provider’s stock after buying an additional 8,334 shares during the period. Sei Investments Co.’s holdings in Prudential Financial were worth $7,757,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC grew its stake in Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new position in Prudential Financial in the second quarter valued at about $29,000. Strategic Financial Concepts LLC grew its stake in Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 25,027 shares during the last quarter. Crewe Advisors LLC purchased a new position in Prudential Financial in the first quarter valued at about $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial in the first quarter valued at about $34,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.2 %

Prudential Financial stock opened at $120.81 on Monday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52. The company has a market capitalization of $43.37 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 0.95 and a beta of 1.30. The stock has a 50-day moving average price of $117.29 and a 200 day moving average price of $116.70.

Prudential Financial (NYSE:PRU) last announced its quarterly 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 company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations 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 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 given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction that occurred on 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 directly owns 14,535 shares in the company, valued at $1,648,705.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 owned by company insiders.

Analyst Upgrades and Downgrades

PRU has been the topic of several analyst reports. Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price on the stock in a research note on Monday, August 12th. Jefferies Financial Group lowered their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Argus raised Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Citigroup raised their price target on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $120.83.

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.