GHP Investment Advisors Inc. Grows Position in Prudential Financial, Inc. (NYSE:PRU)

GHP Investment Advisors Inc. increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 235.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 379 shares of the financial services provider’s stock after acquiring an additional 266 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Prudential Financial were worth $46,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PRU. Creekmur Asset Management LLC raised its holdings 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 during the period. Lynx Investment Advisory purchased a new position in Prudential Financial during the second quarter worth about $29,000. Strategic Financial Concepts LLC boosted its holdings in Prudential Financial by 1,312.4% in the 2nd 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 purchased a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $33,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Prudential Financial during the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 1.7 %

Shares of NYSE PRU opened at $125.60 on Tuesday. The stock has a market cap of $44.84 billion, a P/E ratio of 16.14, a PEG ratio of 0.94 and a beta of 1.30. The business’s fifty day simple moving average is $120.39 and its 200-day simple moving average is $117.96. Prudential Financial, Inc. has a 12-month low of $89.09 and a 12-month high of $128.52. 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 (NYSE:PRU) last posted its quarterly 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 company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. As a group, equities analysts predict that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 66.84%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This trade represents a 0.00 % decrease in their position. 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 purchased 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRU. Barclays assumed coverage on Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 target price for the company. TD Cowen assumed coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Finally, Piper Sandler increased their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $123.69.

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.