Scientech Research LLC Makes New $562,000 Investment in Prudential Financial, Inc. (NYSE:PRU)

Scientech Research LLC bought a new position in Prudential Financial, Inc. (NYSE:PRU) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,798 shares of the financial services provider’s stock, valued at approximately $562,000.

Several other institutional investors and hedge funds have also bought and sold shares of PRU. Gilbert & Cook Inc. boosted its position in Prudential Financial by 3.5% in the fourth quarter. Gilbert & Cook Inc. now owns 10,226 shares of the financial services provider’s stock worth $1,061,000 after purchasing an additional 344 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Prudential Financial by 8.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 28,213 shares of the financial services provider’s stock worth $2,926,000 after purchasing an additional 2,199 shares during the last quarter. TD Asset Management Inc boosted its position in Prudential Financial by 5.2% in the fourth quarter. TD Asset Management Inc now owns 123,336 shares of the financial services provider’s stock worth $12,791,000 after purchasing an additional 6,149 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new position in Prudential Financial in the fourth quarter worth about $755,000. Finally, Bank of Nova Scotia boosted its position in Prudential Financial by 321.9% in the fourth quarter. Bank of Nova Scotia now owns 142,326 shares of the financial services provider’s stock worth $14,760,000 after purchasing an additional 108,591 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PRU shares. Barclays started coverage on Prudential Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective on the stock. Citigroup lifted their price objective on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. JPMorgan Chase & Co. lifted their price objective on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Finally, UBS Group lifted their price objective on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average price target of $120.83.

Prudential Financial Stock Up 0.2 %

Shares of PRU opened at $120.81 on Friday. The business’s 50 day moving average is $117.29 and its 200 day moving average is $116.67. The company has a market capitalization of $43.13 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 0.95 and a beta of 1.30. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data 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). 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 during the quarter, compared to the consensus estimate of $13.78 billion. Research analysts expect that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed 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 4.30%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s payout ratio is 88.44%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial 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 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 is accessible through this hyperlink. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial 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 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 is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial 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 disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Company 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.