Capital Investment Advisors LLC Acquires 913 Shares of Prudential Financial, Inc. (NYSE:PRU)

Capital Investment Advisors LLC boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 36.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,393 shares of the financial services provider’s stock after purchasing an additional 913 shares during the quarter. Capital Investment Advisors LLC’s holdings in Prudential Financial were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PRU. Vanguard Group Inc. lifted its position in Prudential Financial by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after acquiring an additional 5,154,865 shares during the period. Norges Bank acquired a new position in Prudential Financial in the fourth quarter valued at approximately $113,478,000. Dimensional Fund Advisors LP lifted its holdings in Prudential Financial by 10.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after acquiring an additional 388,363 shares during the last quarter. Swedbank AB acquired a new position in Prudential Financial during the first quarter worth $35,855,000. Finally, abrdn plc lifted its stake in Prudential Financial by 37.5% during the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock worth $114,829,000 after purchasing an additional 302,164 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PRU shares. Piper Sandler dropped their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Jefferies Financial Group lowered their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Keefe, Bruyette & Woods lifted their target price on shares of Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a report on Monday, July 8th. JPMorgan Chase & Co. increased their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Evercore ISI increased their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $118.25.

Prudential Financial Price Performance

Shares of Prudential Financial stock traded up $0.74 during trading hours on Friday, hitting $109.46. The company’s stock had a trading volume of 1,150,485 shares, compared to its average volume of 1,764,026. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The business has a 50 day moving average price of $118.41 and a two-hundred day moving average price of $114.19. The company has a market cap of $39.08 billion, a PE ratio of 18.62, a PEG ratio of 0.83 and a beta of 1.34.

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 issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.75%. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were purchased at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Robert Falzon sold 130,092 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the sale, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a document filed with the SEC, 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 that occurred on Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

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.