Oxler Private Wealth LLC Boosts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Oxler Private Wealth LLC grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,848 shares of the financial services provider’s stock after purchasing an additional 121 shares during the period. Oxler Private Wealth LLC’s holdings in Prudential Financial were worth $1,271,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Annex Advisory Services LLC lifted its holdings in Prudential Financial by 3.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after buying an additional 81 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Prudential Financial by 1.1% during the second quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after acquiring an additional 87 shares in the last quarter. Peoples Bank OH grew its stake in Prudential Financial by 2.3% in the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 90 shares in the last quarter. Quotient Wealth Partners LLC increased its holdings in Prudential Financial by 3.9% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 92 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Prudential Financial by 1.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock worth $875,000 after buying an additional 94 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded up $1.36 during midday trading on Friday, hitting $121.16. The company had a trading volume of 2,095,820 shares, compared to its average volume of 1,501,747. The stock has a market cap of $43.50 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 0.89 and a beta of 1.34. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $118.03 and a 200 day simple moving average of $115.13.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. As a group, analysts predict that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Wall Street Analyst Weigh In

PRU has been the subject of several recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group reduced their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $119.33.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was acquired at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the acquisition, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

Prudential Financial 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.