Prudential Financial, Inc. (NYSE:PRU) Stock Holdings Increased by Wedmont Private Capital

Wedmont Private Capital raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 17.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,246 shares of the financial services provider’s stock after buying an additional 481 shares during the period. Wedmont Private Capital’s holdings in Prudential Financial were worth $400,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its stake in Prudential Financial by 77.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,355 shares of the financial services provider’s stock valued at $763,000 after buying an additional 3,220 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Prudential Financial in the 4th quarter worth approximately $2,261,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Prudential Financial during the 4th quarter valued at $214,000. BOK Financial Private Wealth Inc. lifted its holdings in shares of Prudential Financial by 78.5% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 1,573 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 692 shares in the last quarter. Finally, Capital Analysts LLC acquired a new stake in shares of Prudential Financial in the fourth quarter worth $46,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of NYSE PRU traded up $1.10 during trading hours on Tuesday, hitting $109.50. 1,261,921 shares of the stock were exchanged, compared to its average volume of 1,496,523. The firm has a market capitalization of $39.09 billion, a P/E ratio of 18.49, a P/E/G ratio of 0.83 and a beta of 1.34. 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 50 day moving average is $118.18 and its 200 day moving average is $114.34.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.75%. Prudential Financial’s payout ratio is presently 88.44%.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the purchase, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on PRU. JPMorgan Chase & Co. lifted their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. UBS Group increased their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday. Citigroup boosted their target price on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company raised Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a research note on Monday. Finally, Jefferies Financial Group dropped their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $119.42.

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.