Prudential Financial, Inc. (NYSE:PRU) Stock Position Lifted by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1,312.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,934 shares of the financial services provider’s stock after acquiring an additional 25,027 shares during the period. Strategic Financial Concepts LLC’s holdings in Prudential Financial were worth $32,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Great Lakes Advisors LLC boosted its holdings in shares of Prudential Financial by 2.4% in the 2nd quarter. Great Lakes Advisors LLC now owns 534,834 shares of the financial services provider’s stock valued at $62,677,000 after buying an additional 12,577 shares during the period. Illinois Municipal Retirement Fund grew its stake in Prudential Financial by 686.0% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 102,720 shares of the financial services provider’s stock worth $12,038,000 after buying an additional 89,652 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in Prudential Financial by 6.9% in the second quarter. Cullen Frost Bankers Inc. now owns 7,512 shares of the financial services provider’s stock valued at $880,000 after buying an additional 487 shares during the last quarter. Patron Partners LLC boosted its holdings in shares of Prudential Financial by 3.9% during the second quarter. Patron Partners LLC now owns 5,599 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 212 shares during the period. Finally, Commonwealth Retirement Investments LLC increased its holdings in shares of Prudential Financial by 1.2% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 13,798 shares of the financial services provider’s stock worth $1,617,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the purchase, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on 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 filing with the SEC, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was bought at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $114.72 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $41.18 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 0.88 and a beta of 1.30. The stock has a fifty day moving average of $117.95 and a 200-day moving average of $115.82. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 13.31 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

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

Analyst Ratings Changes

PRU has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Citigroup boosted their price target on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. JPMorgan Chase & Co. increased their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Barclays assumed coverage on shares of Prudential Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus price target of $120.83.

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.