2,199 Shares in Prudential Financial, Inc. (NYSE:PRU) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,199 shares of the financial services provider’s stock, valued at approximately $258,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Prudential Financial by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after buying an additional 5,154,865 shares in the last quarter. Swedbank AB acquired a new stake in shares of Prudential Financial during the first quarter worth approximately $35,855,000. Schroder Investment Management Group increased its holdings in shares of Prudential Financial by 387.6% during the fourth quarter. Schroder Investment Management Group now owns 332,421 shares of the financial services provider’s stock worth $34,475,000 after buying an additional 264,247 shares in the last quarter. Gillson Capital LP acquired a new stake in shares of Prudential Financial during the fourth quarter worth approximately $16,536,000. Finally, OFI Invest Asset Management increased its holdings in shares of Prudential Financial by 10,529.7% during the second quarter. OFI Invest Asset Management now owns 155,513 shares of the financial services provider’s stock worth $17,004,000 after buying an additional 154,050 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.5 %

Shares of NYSE PRU opened at $120.79 on Tuesday. The company’s fifty day moving average is $117.73 and its 200-day moving average is $116.46. The stock has a market cap of $43.36 billion, a price-to-earnings ratio of 20.54, 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. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last announced its quarterly 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). The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Equities research analysts predict that Prudential Financial, Inc. will post 13.31 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.30%. Prudential Financial’s dividend payout ratio is 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 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 sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Caroline Feeney sold 1,110 shares of the business’s 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 sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective for the company in a report on Monday, August 12th. Citigroup raised their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Barclays initiated coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target for the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $120.83.

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.