AlphaStar Capital Management LLC Makes New Investment in Prudential Financial, Inc. $PRU

AlphaStar Capital Management LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, HoldingsChannel reports. The fund acquired 14,554 shares of the financial services provider’s stock, valued at approximately $1,564,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in shares of Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after buying an additional 111 shares during the period. Cheviot Value Management LLC acquired a new position in shares of Prudential Financial in the 1st quarter valued at about $26,000. North Capital Inc. acquired a new position in shares of Prudential Financial in the 1st quarter valued at about $28,000. AlphaQuest LLC lifted its holdings in shares of Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after buying an additional 245 shares during the period. Finally, Clearstead Trust LLC lifted its holdings in shares of Prudential Financial by 350.8% in the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after buying an additional 207 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Prudential Financial Price Performance

NYSE:PRU opened at $103.95 on Friday. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The stock has a 50 day moving average of $104.17 and a two-hundred day moving average of $104.30. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a market cap of $36.59 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%.The company had revenue of $8.35 billion during the quarter. On average, analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.2%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s payout ratio is 119.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Wells Fargo & Company cut their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Evercore ISI lifted their price target on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research note on Thursday. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Piper Sandler cut their price target on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $120.64.

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.