1,329 Shares in Prudential Financial, Inc. (NYSE:PRU) Bought by ORG Partners LLC

ORG Partners LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,329 shares of the financial services provider’s stock, valued at approximately $156,000.

A number of other large investors have also recently bought and sold shares of the business. Cambridge Trust Co. lifted its stake in shares of Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares during the period. Creekmur Asset Management LLC lifted its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial in the 2nd quarter worth $29,000. Crewe Advisors LLC purchased a new position in shares of Prudential Financial in the 1st quarter valued at about $33,000. Finally, ESL Trust Services LLC purchased a new position in shares of Prudential Financial in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PRU. Evercore ISI increased their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Morgan Stanley increased their price target on shares of Prudential Financial from $120.00 to $123.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a report on Monday. Jefferies Financial Group dropped their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Piper Sandler dropped their target price on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average target price of $119.42.

Insider Buying and Selling at Prudential Financial

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

Prudential Financial Trading Up 1.4 %

Shares of PRU traded up $1.52 during mid-day trading on Thursday, hitting $112.92. The company had a trading volume of 525,104 shares, compared to its average volume of 1,495,524. The business’s 50-day simple moving average is $117.89 and its 200-day simple moving average is $114.35. 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 1-year low of $87.95 and a 1-year high of $128.52. The stock has a market cap of $40.54 billion, a PE ratio of 18.95, a P/E/G ratio of 0.85 and a beta of 1.34.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.61%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

About Prudential Financial

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.