Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 70.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,570 shares of the financial services provider’s stock after acquiring an additional 7,281 shares during the period. Intech Investment Management LLC’s holdings in Prudential Financial were worth $2,059,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRU. Creekmur Asset Management LLC increased its position in shares of Prudential Financial by 78.8% in the 1st 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 last quarter. Lynx Investment Advisory purchased a new position in shares of Prudential Financial during the second quarter worth approximately $29,000. Crewe Advisors LLC acquired a new stake in shares of Prudential Financial during the first quarter worth about $33,000. ESL Trust Services LLC purchased a new stake in shares of Prudential Financial during the first quarter worth approximately $34,000. Finally, Riverview Trust Co acquired a new position in Prudential Financial in the 1st quarter valued at $37,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Jefferies Financial Group lowered their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Barclays started coverage on Prudential Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective for the company. UBS Group raised their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $120.83.

Insider Activity

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the business’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 transaction, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Down 0.5 %

PRU stock opened at $120.79 on Tuesday. The business has a fifty day simple moving average of $117.73 and a 200-day simple moving average of $116.46. The company has a market cap of $43.36 billion, a price-to-earnings ratio of 20.54, a PEG 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. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52.

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 the consensus estimate 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, equities research analysts expect that Prudential Financial, Inc. will post 13.31 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given 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 yield of 4.30%. Prudential Financial’s dividend payout ratio (DPR) is presently 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.