Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Ieq Capital LLC

Ieq Capital LLC lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,434 shares of the financial services provider’s stock after buying an additional 2,100 shares during the quarter. Ieq Capital LLC’s holdings in Prudential Financial were worth $2,512,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PRU. Brighton Jones LLC grew its position in Prudential Financial by 3.0% in the 2nd quarter. Brighton Jones LLC now owns 3,536 shares of the financial services provider’s stock valued at $414,000 after acquiring an additional 103 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Prudential Financial by 70.8% in the second quarter. Intech Investment Management LLC now owns 17,570 shares of the financial services provider’s stock valued at $2,059,000 after purchasing an additional 7,281 shares in the last quarter. Blair William & Co. IL increased its stake in Prudential Financial by 148.4% during the 2nd quarter. Blair William & Co. IL now owns 26,585 shares of the financial services provider’s stock worth $3,116,000 after buying an additional 15,884 shares during the period. Zega Financial LLC boosted its position in Prudential Financial by 4.8% in the 2nd quarter. Zega Financial LLC now owns 2,202 shares of the financial services provider’s stock valued at $258,000 after buying an additional 101 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Prudential Financial by 6.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,379 shares of the financial services provider’s stock worth $4,964,000 after acquiring an additional 2,507 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PRU. 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. UBS Group boosted their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group dropped 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. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $120.83.

Prudential Financial Stock Performance

NYSE PRU opened at $121.36 on Friday. The company has a fifty day moving average of $117.83 and a two-hundred day moving average of $116.34. The company 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 1 year low of $87.95 and a 1 year high of $128.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion for 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%. As a group, analysts expect that Prudential Financial, Inc. will post 13.31 earnings per share for the current year.

Prudential Financial Announces Dividend

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 $1.30 dividend. 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 payout ratio is 88.44%.

Prudential Financial 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.