3,086 Shares in Prudential Financial, Inc. $PRU Acquired by Coordinated Financial Services Inc.

Coordinated Financial Services Inc. bought a new position in Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,086 shares of the financial services provider’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Prudential Financial by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider’s stock worth $2,320,000 after acquiring an additional 721 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Prudential Financial by 3.0% in the first quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider’s stock valued at $12,217,000 after acquiring an additional 3,183 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Prudential Financial by 728.4% in the first quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 743 shares during the last quarter. HighTower Advisors LLC lifted its stake in Prudential Financial by 68.2% in the first quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider’s stock valued at $12,373,000 after acquiring an additional 44,937 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Prudential Financial by 9.7% in the first quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 222 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Trading Down 0.3%

Shares of Prudential Financial stock opened at $102.55 on Friday. The firm has a market capitalization of $36.10 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The company’s fifty day moving average price is $105.18 and its two-hundred day moving average price is $104.65. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. During the same quarter in the prior year, the firm earned $3.39 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.3%. Prudential Financial’s dividend payout ratio is presently 119.73%.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the sale, the executive vice president owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PRU. Morgan Stanley lifted their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company reduced their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Barclays reduced their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday. Piper Sandler reduced their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $122.27.

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.