Benjamin F. Edwards & Company Inc. Increases Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Benjamin F. Edwards & Company Inc. increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 12.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,180 shares of the financial services provider’s stock after purchasing an additional 2,698 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Prudential Financial were worth $2,950,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creekmur Asset Management LLC grew its position in shares of Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory acquired a new position in Prudential Financial in the second quarter valued at $29,000. Strategic Financial Concepts LLC boosted its holdings in Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 25,027 shares during the last quarter. Crewe Advisors LLC acquired a new position in Prudential Financial in the first quarter valued at $33,000. Finally, ESL Trust Services LLC acquired a new position in Prudential Financial in the first quarter valued at $34,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.4 %

Shares of Prudential Financial stock opened at $121.36 on Friday. 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 firm has a market cap of $43.57 billion, a P/E ratio of 20.64, a P/E/G ratio of 0.91 and a beta of 1.30. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The business has a 50-day moving average price of $117.83 and a 200 day moving average price of $116.34.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 13.31 earnings per share for the current fiscal 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 issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PRU. JPMorgan Chase & Co. lifted their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Barclays started coverage on Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective on the stock. Citigroup boosted their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group reduced their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $120.83.

Insider Activity at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction that occurred 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 directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate 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.