Ashton Thomas Private Wealth LLC Takes $65,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Ashton Thomas Private Wealth LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 557 shares of the financial services provider’s stock, valued at approximately $65,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PRU. PFG Investments LLC grew its stake in Prudential Financial by 63.1% in the 2nd quarter. PFG Investments LLC now owns 7,652 shares of the financial services provider’s stock worth $897,000 after acquiring an additional 2,959 shares during the period. Mount Lucas Management LP purchased a new position in Prudential Financial during the second quarter worth about $520,000. Ballentine Partners LLC boosted its stake in Prudential Financial by 103.4% in the 2nd quarter. Ballentine Partners LLC now owns 8,889 shares of the financial services provider’s stock worth $1,042,000 after buying an additional 4,519 shares during the last quarter. Caprock Group LLC increased its stake in shares of Prudential Financial by 63.0% during the 2nd quarter. Caprock Group LLC now owns 9,200 shares of the financial services provider’s stock valued at $1,078,000 after acquiring an additional 3,556 shares during the last quarter. Finally, Orca Investment Management LLC lifted its holdings in shares of Prudential Financial by 0.6% during the 2nd quarter. Orca Investment Management LLC now owns 28,802 shares of the financial services provider’s stock worth $3,375,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research analyst reports. Barclays initiated coverage on Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price on the stock. UBS Group lifted their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Argus upgraded Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus price target of $120.83.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Prudential Financial Stock Up 0.4 %

Shares of Prudential Financial stock opened at $116.26 on Friday. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The stock has a market capitalization of $41.50 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 0.89 and a beta of 1.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The business’s 50 day simple moving average is $117.88 and its 200-day simple moving average is $115.94.

Prudential Financial (NYSE:PRU) last posted its earnings results 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 firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Equities research analysts forecast that Prudential Financial, Inc. will post 13.31 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is 88.44%.

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.