Prudential Financial, Inc. (NYSE:PRU) Stock Holdings Increased by Raymond James Trust N.A.

Raymond James Trust N.A. raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,117 shares of the financial services provider’s stock after buying an additional 87 shares during the period. Raymond James Trust N.A.’s holdings in Prudential Financial were worth $951,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PRU. Northcape Wealth Management LLC boosted its holdings in shares of Prudential Financial by 6.1% in the second quarter. Northcape Wealth Management LLC now owns 2,097 shares of the financial services provider’s stock worth $246,000 after buying an additional 120 shares during the period. Institute for Wealth Management LLC. lifted its holdings in shares of Prudential Financial by 1.2% in the second quarter. Institute for Wealth Management LLC. now owns 9,069 shares of the financial services provider’s stock valued at $1,063,000 after purchasing an additional 111 shares in the last quarter. LRI Investments LLC raised its position in Prudential Financial by 79.5% during the second quarter. LRI Investments LLC now owns 736 shares of the financial services provider’s stock valued at $86,000 after buying an additional 326 shares during the period. Family Firm Inc. purchased a new stake in Prudential Financial in the 2nd quarter worth about $54,000. Finally, Quotient Wealth Partners LLC boosted its position in Prudential Financial by 3.9% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the firm’s 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 transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $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 news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated 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 approximately $1,648,705.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of Prudential Financial stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PRU. Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Morgan Stanley dropped their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. UBS Group lifted their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Citigroup raised their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group decreased their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $119.33.

Prudential Financial Price Performance

Shares of NYSE:PRU traded up $1.39 on Monday, hitting $118.80. The stock had a trading volume of 128,936 shares, compared to its average volume of 1,497,174. The company has a market capitalization of $42.65 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The firm’s 50 day moving average price is $117.80 and its 200-day moving average price is $114.91. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52.

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 the consensus estimate 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 return on equity of 16.00% and a net margin of 4.86%. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 4.38%. Prudential Financial’s dividend payout ratio (DPR) is currently 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.