Mercer Global Advisors Inc. ADV Buys 291 Shares of Prudential Financial, Inc. (NYSE:PRU)

Mercer Global Advisors Inc. ADV boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,074 shares of the financial services provider’s stock after acquiring an additional 291 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Prudential Financial were worth $3,993,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. Annex Advisory Services LLC grew its position in shares of 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 purchasing an additional 81 shares in the last quarter. Raymond James Trust N.A. increased its stake in Prudential Financial by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after acquiring an additional 87 shares during the last quarter. Peoples Bank OH raised its holdings in shares of Prudential Financial by 2.3% in the 1st quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 90 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in shares of 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 valued at $284,000 after acquiring an additional 92 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Prudential Financial by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

PRU has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a research report on Monday, August 12th. Barclays began coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price for the company. JPMorgan Chase & Co. raised their price target on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group cut their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Morgan Stanley decreased their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $120.83.

Prudential Financial Trading Down 0.4 %

NYSE:PRU opened at $121.36 on Friday. The firm has a market capitalization 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. 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 moving average of $117.83 and a 200 day moving average of $116.34. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52.

Prudential Financial (NYSE:PRU) last posted 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 firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. On average, research analysts predict that Prudential Financial, Inc. will post 13.31 earnings per share for the current year.

Prudential Financial Dividend Announcement

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