Allegheny Financial Group LTD Buys 368 Shares of Prudential Financial, Inc. (NYSE:PRU)

Allegheny Financial Group LTD increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 14.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,863 shares of the financial services provider’s stock after acquiring an additional 368 shares during the quarter. Allegheny Financial Group LTD’s holdings in Prudential Financial were worth $336,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. raised its holdings in Prudential Financial by 3.5% during the 4th quarter. Gilbert & Cook Inc. now owns 10,226 shares of the financial services provider’s stock worth $1,061,000 after buying an additional 344 shares during the period. Natixis Advisors L.P. increased its holdings in Prudential Financial by 17.6% during the 4th quarter. Natixis Advisors L.P. now owns 114,818 shares of the financial services provider’s stock worth $11,907,000 after purchasing an additional 17,210 shares in the last quarter. Merit Financial Group LLC lifted its holdings in shares of Prudential Financial by 23.5% in the fourth quarter. Merit Financial Group LLC now owns 3,028 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 576 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Prudential Financial by 1.5% during the fourth quarter. National Bank of Canada FI now owns 158,770 shares of the financial services provider’s stock worth $16,598,000 after buying an additional 2,399 shares during the period. Finally, Metis Global Partners LLC grew its holdings in shares of Prudential Financial by 5.4% during the fourth quarter. Metis Global Partners LLC now owns 23,117 shares of the financial services provider’s stock worth $2,397,000 after buying an additional 1,187 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE PRU opened at $120.70 on Wednesday. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The stock has a market cap of $43.33 billion, a PE ratio of 20.53, a P/E/G ratio of 0.94 and a beta of 1.34. The firm has a 50-day moving average of $118.18 and a 200-day moving average of $115.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date is Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of Prudential Financial stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $107,065,062.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s 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 acquisition, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the company’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 transaction of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

PRU has been the subject of several research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Jefferies Financial Group reduced their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $119.33.

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.