Newbridge Financial Services Group Inc. Increases Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Newbridge Financial Services Group Inc. boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 99.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 597 shares of the financial services provider’s stock after buying an additional 297 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Prudential Financial were worth $70,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cullinan Associates Inc. lifted its stake in shares of Prudential Financial by 2,355.0% during the first quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after buying an additional 145,423 shares during the period. National Bank of Canada FI increased its holdings in Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after buying an additional 71,274 shares during the period. Greenwood Capital Associates LLC purchased a new position in Prudential Financial during the 4th quarter worth approximately $1,087,000. Nomura Holdings Inc. purchased a new stake in shares of Prudential Financial in the 4th quarter valued at $761,000. Finally, Brookstone Capital Management increased its stake in shares of Prudential Financial by 1,635.0% in the first quarter. Brookstone Capital Management now owns 87,201 shares of the financial services provider’s stock worth $10,237,000 after acquiring an additional 82,175 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $118.90 on Friday. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The company has a market cap of $42.69 billion, a P/E ratio of 20.22, a P/E/G ratio of 0.96 and a beta of 1.30. 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 company’s 50-day moving average price is $116.95 and its 200-day moving average price is $116.84.

Prudential Financial (NYSE:PRU) last issued its earnings results 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). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

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 dividend yield of 4.37%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Wall Street Analysts Forecast Growth

PRU has been the topic of several recent research reports. JPMorgan Chase & Co. upped 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. UBS Group boosted 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. Piper Sandler increased their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Citigroup increased their price objective 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $121.33.

Insider Transactions at Prudential Financial

In related 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 transaction 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 $1,220,694.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.