Kowal Investment Group LLC Boosts Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Kowal Investment Group LLC increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,097 shares of the financial services provider’s stock after acquiring an additional 191 shares during the period. Kowal Investment Group LLC’s holdings in Prudential Financial were worth $832,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PRU. Creekmur Asset Management LLC boosted its stake in shares of Prudential Financial by 78.8% during 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 purchased a new stake in Prudential Financial during the 2nd quarter valued at $29,000. Strategic Financial Concepts LLC grew its holdings in Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 25,027 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Prudential Financial during the first quarter valued at about $33,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Prudential Financial during the first quarter worth about $34,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a report on Monday, August 12th. Jefferies Financial Group reduced their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Morgan Stanley dropped their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. boosted their price target 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. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $120.83.

Prudential Financial Stock Performance

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

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

Prudential Financial Announces Dividend

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

Insider Transactions at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of the business’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 completion of the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following 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.

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.