Frank Rimerman Advisors LLC Invests $1.89 Million in Prudential Financial, Inc. (NYSE:PRU)

Frank Rimerman Advisors LLC purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,151 shares of the financial services provider’s stock, valued at approximately $1,893,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its position in shares of Prudential Financial by 3.5% during 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 in the last quarter. Corient Private Wealth LLC lifted its holdings in Prudential Financial by 3.5% during the 4th quarter. Corient Private Wealth LLC now owns 90,111 shares of the financial services provider’s stock worth $9,345,000 after buying an additional 3,089 shares in the last quarter. Assetmark Inc. boosted its position in Prudential Financial by 6.4% in the 4th quarter. Assetmark Inc. now owns 19,276 shares of the financial services provider’s stock valued at $1,999,000 after buying an additional 1,154 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Prudential Financial by 34.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 783 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 200 shares during the last quarter. Finally, SageView Advisory Group LLC lifted its stake in shares of Prudential Financial by 18.5% during the fourth quarter. SageView Advisory Group LLC now owns 2,939 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 459 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Caroline Feeney sold 1,110 shares of the firm’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 of the company’s stock, valued at $1,220,694.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

PRU has been the subject of a number of research reports. Barclays assumed coverage on Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price objective for the company. Jefferies Financial Group dropped 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 note on Friday, June 28th. UBS Group raised their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley decreased their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $120.83.

Prudential Financial Trading Down 0.4 %

NYSE PRU opened at $121.36 on Monday. The firm has a market cap of $43.57 billion, a P/E ratio of 20.64, a P/E/G ratio of 0.91 and a beta of 1.30. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The stock’s 50-day moving average is $117.83 and its 200-day moving average is $116.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced its earnings results 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 net margin of 4.86% and a return on equity of 16.00%. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.31 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.28%. Prudential Financial’s dividend 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.