Brighton Jones LLC Boosts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Brighton Jones LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,536 shares of the financial services provider’s stock after buying an additional 103 shares during the period. Brighton Jones LLC’s holdings in Prudential Financial were worth $414,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its holdings in shares of Prudential Financial by 3.5% in the 4th quarter. Gilbert & Cook Inc. now owns 10,226 shares of the financial services provider’s stock worth $1,061,000 after acquiring an additional 344 shares during the last quarter. Norges Bank bought a new stake in Prudential Financial in the fourth quarter worth $113,478,000. Corient Private Wealth LLC grew its stake in shares of Prudential Financial by 3.5% during the fourth quarter. Corient Private Wealth LLC now owns 90,111 shares of the financial services provider’s stock valued at $9,345,000 after buying an additional 3,089 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Prudential Financial by 6.4% in the fourth quarter. Assetmark Inc. now owns 19,276 shares of the financial services provider’s stock worth $1,999,000 after buying an additional 1,154 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Prudential Financial by 34.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 783 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Morgan Stanley lowered their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, UBS Group upped their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average price target of $120.83.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated 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 owns 10,175 shares in the company, valued at approximately $1,220,694.75. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Down 0.4 %

NYSE PRU opened at $121.36 on Friday. The stock’s 50 day moving average is $117.83 and its 200 day moving average is $116.34. 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 capitalization of $43.57 billion, a PE ratio of 20.64, a P/E/G ratio of 0.91 and a beta of 1.30. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52.

Prudential Financial (NYSE:PRU) last released its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Research analysts forecast that Prudential Financial, Inc. will post 13.31 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.28%. Prudential Financial’s payout ratio is 88.44%.

About Prudential Financial

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.