Archer Investment Corp Grows Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Archer Investment Corp lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 71.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 542 shares of the financial services provider’s stock after acquiring an additional 225 shares during the period. Archer Investment Corp’s holdings in Prudential Financial were worth $64,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Annex Advisory Services LLC raised its position in Prudential Financial by 3.4% during the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 81 shares during the period. Raymond James Trust N.A. raised its holdings in Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after buying an additional 87 shares during the period. Peoples Bank OH lifted its position in Prudential Financial by 2.3% in the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock worth $475,000 after buying an additional 90 shares during the last quarter. Quotient Wealth Partners LLC increased its position in Prudential Financial by 3.9% during the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 92 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Prudential Financial by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

NYSE:PRU opened at $119.55 on Thursday. The company has a 50 day moving average price of $118.22 and a 200-day moving average price of $115.56. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $128.52. The firm has a market cap of $42.68 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 0.94 and a beta of 1.30. 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 issued its quarterly earnings data 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). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Equities research analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.35%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Analysts Set New Price Targets

PRU has been the subject of several analyst reports. UBS Group raised their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Jefferies Financial Group reduced their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $119.33.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial 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 sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the transaction, the insider now owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the 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 sale, the executive vice president now 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 corporate insiders.

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.