Ensign Peak Advisors Inc Acquires 9,070 Shares of Prudential Financial, Inc. (NYSE:PRU)

Ensign Peak Advisors Inc boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,144 shares of the financial services provider’s stock after acquiring an additional 9,070 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Prudential Financial were worth $14,783,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PRU. Cullinan Associates Inc. raised its stake in shares of Prudential Financial by 2,355.0% during the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after purchasing an additional 145,423 shares in the last quarter. National Bank of Canada FI lifted its stake in Prudential Financial by 44.9% in the first quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after acquiring an additional 71,274 shares during the last quarter. Greenwood Capital Associates LLC acquired a new position in shares of Prudential Financial during the 4th quarter worth about $1,087,000. Crestline Management LP raised its holdings in shares of Prudential Financial by 50.0% in the 4th quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock valued at $6,223,000 after purchasing an additional 20,000 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in Prudential Financial in the 4th quarter valued at about $761,000. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley dropped their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Citigroup increased their price target on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group reduced their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average price target of $120.83.

Insider Activity

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

Prudential Financial Stock Down 0.5 %

Shares of PRU opened at $120.79 on Tuesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $43.36 billion, a PE ratio of 20.54, a P/E/G ratio of 0.91 and a beta of 1.30. The firm’s 50 day moving average is $117.73 and its 200-day moving average is $116.46. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52.

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

Prudential Financial Dividend Announcement

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. This represents a $5.20 annualized dividend and a yield of 4.30%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 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.