Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,902 shares of the financial services provider’s stock after acquiring an additional 1,598 shares during the period. ProShare Advisors LLC’s holdings in Prudential Financial were worth $10,184,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PRU. Kowal Investment Group LLC raised its position in Prudential Financial by 2.8% in the second quarter. Kowal Investment Group LLC now owns 7,097 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 191 shares during the period. Ensign Peak Advisors Inc raised its holdings in shares of Prudential Financial by 7.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 126,144 shares of the financial services provider’s stock valued at $14,783,000 after buying an additional 9,070 shares during the period. Sei Investments Co. lifted its position in Prudential Financial by 14.4% during the 2nd quarter. Sei Investments Co. now owns 66,187 shares of the financial services provider’s stock worth $7,757,000 after acquiring an additional 8,334 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Prudential Financial by 4.5% in the 2nd quarter. Pacer Advisors Inc. now owns 25,964 shares of the financial services provider’s stock worth $3,043,000 after acquiring an additional 1,122 shares during the period. Finally, Bridges Investment Management Inc. purchased a new stake in shares of Prudential Financial during the second quarter valued at approximately $360,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their target price on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. 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. Barclays assumed coverage on Prudential Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective on the stock. Finally, Jefferies Financial Group decreased their price target 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. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $120.83.

Insider Activity

In related news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated 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 owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Ann M. Kappler sold 2,839 shares of the firm’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 sale, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the business’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 transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $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 Trading Down 0.8 %

NYSE PRU opened at $119.88 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The company has a 50-day simple moving average of $117.60 and a 200-day simple moving average of $116.52. The firm has a market capitalization of $43.04 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.91 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts forecast that Prudential Financial, Inc. will post 13.31 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Tuesday, August 20th. 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.