Blue Trust Inc. Raises Stake in Prudential Financial, Inc. (NYSE:PRU)

Blue Trust Inc. raised its position in Prudential Financial, Inc. (NYSE:PRU) by 22.4% during the second quarter, HoldingsChannel reports. The firm owned 2,543 shares of the financial services provider’s stock after buying an additional 465 shares during the quarter. Blue Trust Inc.’s holdings in Prudential Financial were worth $299,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PRU. Cambridge Trust Co. increased its holdings in Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares during the last quarter. Creekmur Asset Management LLC boosted its position in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the 2nd quarter worth about $29,000. Crewe Advisors LLC purchased a new stake in Prudential Financial during the first quarter worth approximately $33,000. Finally, ESL Trust Services LLC acquired a new position in Prudential Financial in the first quarter valued at approximately $34,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Price Performance

NYSE:PRU opened at $114.89 on Friday. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The firm has a market cap of $41.25 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 0.85 and a beta of 1.34. The company’s 50-day moving average is $117.75 and its two-hundred day moving average is $114.46. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.53%. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the acquisition, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Jefferies Financial Group reduced their price objective 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. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Evercore ISI raised their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price on the stock in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $119.42.

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.