Empowered Funds LLC Takes Position in Prudential Financial, Inc. $PRU

Empowered Funds LLC acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,927 shares of the financial services provider’s stock, valued at approximately $4,525,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PRU. Jessup Wealth Management Inc purchased a new position in Prudential Financial in the 4th quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Prudential Financial during the 4th quarter valued at $26,000. SJS Investment Consulting Inc. lifted its holdings in shares of Prudential Financial by 93.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 134 shares during the last quarter. Coston McIsaac & Partners grew its position in Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 128 shares in the last quarter. Finally, Basepoint Wealth LLC purchased a new position in Prudential Financial in the fourth quarter worth $30,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 7,652 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the transaction, the executive vice president directly owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the firm’s stock in a transaction dated 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 approximately $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. Insiders own 0.05% of the company’s stock.

Prudential Financial Stock Down 1.7%

Shares of NYSE:PRU opened at $117.75 on Tuesday. The stock’s 50-day moving average is $118.14 and its 200 day moving average is $106.40. The company has a market cap of $40.62 billion, a PE ratio of 10.67, a P/E/G ratio of 2.45 and a beta of 0.84. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $127.72.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share 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 business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.36 billion. During the same quarter last year, the business posted $3.58 EPS. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.51 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a yield of 4.8%. Prudential Financial’s dividend payout ratio (DPR) is presently 50.72%.

Analyst Ratings Changes

PRU has been the subject of several research analyst reports. Zacks Research raised Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Jefferies Financial Group upped their target price on Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Mizuho lifted their price target on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $109.31.

Prudential Financial Company 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.