Hazlett Burt & Watson Inc. Acquires 184 Shares of Prudential Financial, Inc. (NYSE:PRU)

Hazlett Burt & Watson Inc. lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,059 shares of the financial services provider’s stock after buying an additional 184 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Prudential Financial were worth $242,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Creekmur Asset Management LLC raised its holdings in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after buying an additional 108 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of Prudential Financial during the 2nd quarter valued at about $29,000. Strategic Financial Concepts LLC raised its holdings in shares of Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares in the last quarter. Crewe Advisors LLC purchased a new position in Prudential Financial in the 1st quarter worth approximately $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial in the 1st quarter worth approximately $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PRU shares. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. 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 report on Monday, August 19th. Citigroup boosted their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, Barclays assumed 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. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $120.83.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the purchase, 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 filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Ann M. Kappler sold 2,839 shares of the firm’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 value of $322,027.77. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the stock in a transaction dated Thursday, June 20th. The stock was bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of 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. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Down 0.3 %

Prudential Financial stock opened at $114.65 on Wednesday. The stock has a market cap of $41.16 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 0.88 and a beta of 1.30. 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, Inc. has a one year low of $87.95 and a one year high of $128.52. The stock has a fifty day moving average of $118.02 and a 200 day moving average of $115.82.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion during 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%. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 13.31 EPS for the current year.

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. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is 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.