Pure Financial Advisors LLC Acquires New Shares in Prudential Financial, Inc. $PRU

Pure Financial Advisors LLC bought a new position in Prudential Financial, Inc. (NYSE:PRU) in the second quarter, HoldingsChannel reports. The institutional investor bought 5,285 shares of the financial services provider’s stock, valued at approximately $570,000.

Several other hedge funds have also recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Prudential Financial by 9.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 171,486 shares of the financial services provider’s stock worth $19,357,000 after acquiring an additional 14,327 shares during the period. Oxbow Advisors LLC bought a new position in Prudential Financial during the fourth quarter valued at approximately $6,545,000. Orca Investment Management LLC purchased a new stake in Prudential Financial in the second quarter worth approximately $2,605,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Prudential Financial by 4.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 735,934 shares of the financial services provider’s stock worth $83,801,000 after purchasing an additional 29,720 shares during the last quarter. Finally, Strs Ohio grew its position in Prudential Financial by 128.6% in the 4th quarter. Strs Ohio now owns 19,389 shares of the financial services provider’s stock worth $2,189,000 after purchasing an additional 10,909 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRU. JPMorgan Chase & Co. increased their price target on Prudential Financial from $129.00 to $131.00 and gave the company a “neutral” rating in a report on Monday, August 17th. Jefferies Financial Group lifted their price objective on Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Piper Sandler upped their price objective on Prudential Financial from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. TD Cowen increased their target price on Prudential Financial from $102.00 to $114.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Finally, Barclays boosted their price target on Prudential Financial from $90.00 to $92.00 and gave the company an “underweight” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $109.31.

Insider Transactions at Prudential Financial

In related news, EVP Ann M. Kappler sold 7,652 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the transaction, the executive vice president directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the sale, the insider directly owned 7,973,657 shares of the company’s stock, valued at $197,348,010.75. This represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.05% of the company’s stock.

Prudential Financial Trading Up 0.2%

Shares of Prudential Financial stock opened at $120.43 on Friday. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $127.72. The company’s fifty day simple moving average is $117.69 and its 200-day simple moving average is $106.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $41.55 billion, a PE ratio of 10.91, a P/E/G ratio of 2.26 and a beta of 0.84.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.36 billion. During the same period in the prior year, the business posted $3.58 EPS. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 14.3 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given a $1.40 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a yield of 4.6%. Prudential Financial’s dividend payout ratio is presently 50.72%.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.