Meiji Yasuda Life Insurance Co Purchases Shares of 7,310 Prudential Financial, Inc. (NYSE:PRU)

Meiji Yasuda Life Insurance Co acquired a new position in Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,310 shares of the financial services provider’s stock, valued at approximately $857,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC lifted its stake in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory acquired a new position in Prudential Financial during the second quarter valued at $29,000. Strategic Financial Concepts LLC boosted its holdings in Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 25,027 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Prudential Financial during the 1st quarter worth about $33,000. Finally, ESL Trust Services LLC purchased a new position in shares of Prudential Financial during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.6 %

Shares of PRU opened at $119.44 on Thursday. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The stock has a market cap of $42.64 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 0.90 and a beta of 1.30. The firm’s fifty day moving average is $117.88 and its two-hundred day moving average is $116.15. 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 (NYSE:PRU) last announced its quarterly earnings data 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). The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Research analysts forecast that Prudential Financial, Inc. will post 13.31 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors 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 4.35%. Prudential Financial’s payout ratio is 88.44%.

Wall Street Analyst Weigh In

PRU has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. UBS Group upped their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Barclays initiated coverage on Prudential Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 target price on the stock. Finally, Citigroup upped their price target on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $120.83.

Insiders Place Their Bets

In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the firm’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 owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction 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 transaction, 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. 0.31% of the stock is currently owned by corporate insiders.

About Prudential Financial

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.