Prudential Financial, Inc. $PRU Stock Position Raised by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 104.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,420 shares of the financial services provider’s stock after purchasing an additional 6,865 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Prudential Financial were worth $1,524,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Center for Financial Planning Inc. raised its position in shares of Prudential Financial by 90.4% during the 3rd quarter. Center for Financial Planning Inc. now owns 339 shares of the financial services provider’s stock valued at $39,000 after buying an additional 161 shares during the period. Park Avenue Securities LLC grew its position in Prudential Financial by 11.9% in the third quarter. Park Avenue Securities LLC now owns 19,179 shares of the financial services provider’s stock worth $2,178,000 after acquiring an additional 2,039 shares during the period. WESPAC Advisors LLC acquired a new stake in Prudential Financial during the third quarter worth $414,000. Leo Wealth LLC acquired a new stake in Prudential Financial during the third quarter worth $852,000. Finally, Apollon Wealth Management LLC raised its position in Prudential Financial by 21.0% in the third quarter. Apollon Wealth Management LLC now owns 9,324 shares of the financial services provider’s stock valued at $1,059,000 after purchasing an additional 1,620 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on PRU shares. Barclays decreased their price target on Prudential Financial from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, October 19th. Zacks Research lowered shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a report on Friday, October 23rd. Piper Sandler decreased their target price on shares of Prudential Financial from $128.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $123.00 to $119.00 and set a “market perform” rating for the company in a research note on Friday, October 16th. Finally, Morgan Stanley dropped their price target on shares of Prudential Financial from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, October 19th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $111.27.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann 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 value of $956,576.52. Following the completion of the transaction, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. The trade was a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.05% of the stock is currently owned by company insiders.

Prudential Financial Stock Down 0.1%

Shares of PRU opened at $116.35 on Monday. The stock has a market capitalization of $40.14 billion, a PE ratio of 10.54, a P/E/G ratio of 1.95 and a beta of 0.85. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $127.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.16 and a current ratio of 0.16. The company’s 50-day simple moving average is $116.96 and its 200-day simple moving average is $108.79.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.36 billion. During the same quarter in the previous year, the business posted $3.58 earnings per share. Analysts forecast that Prudential Financial, Inc. will post 13.51 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

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

About Prudential Financial

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.