Prudential Financial, Inc. (NYSE:PRU) Shares Bought by EP Wealth Advisors LLC

EP Wealth Advisors LLC raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 17.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,339 shares of the financial services provider’s stock after acquiring an additional 963 shares during the quarter. EP Wealth Advisors LLC’s holdings in Prudential Financial were worth $743,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PRU. Creekmur Asset Management LLC boosted its stake 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 worth $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory acquired a new stake in Prudential Financial during the 2nd quarter worth $29,000. Crewe Advisors LLC acquired a new stake in Prudential Financial during the 1st quarter worth $33,000. ESL Trust Services LLC acquired a new stake in Prudential Financial during the 1st quarter worth $34,000. Finally, Riverview Trust Co acquired a new stake in Prudential Financial during the 1st quarter worth $37,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prudential Financial 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Prudential Financial 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the business’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 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. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Piper Sandler lifted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays initiated coverage on Prudential Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price target on the stock. Jefferies Financial Group reduced their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Argus upgraded Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $121.33.

Prudential Financial Stock Down 0.3 %

Shares of PRU opened at $118.97 on Thursday. The firm has a market cap of $42.47 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The company’s 50-day moving average price is $117.03 and its 200 day moving average price is $116.83. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Announces Dividend

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