Brookwood Investment Group LLC Takes Position in Prudential Financial, Inc. $PRU

Brookwood Investment Group LLC purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,687 shares of the financial services provider’s stock, valued at approximately $289,000.

Other hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its holdings in Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 111 shares during the last quarter. AlphaQuest LLC boosted its holdings in Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 245 shares during the last quarter. North Capital Inc. purchased a new stake in Prudential Financial in the first quarter valued at $28,000. Cheviot Value Management LLC purchased a new stake in Prudential Financial in the first quarter valued at $26,000. Finally, Clearstead Trust LLC boosted its holdings in Prudential Financial by 350.8% in the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In related 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 transaction of $438,600.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

PRU has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. Barclays decreased 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 report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Piper Sandler decreased 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 report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $122.27.

Prudential Financial Stock Down 0.8%

PRU opened at $101.41 on Wednesday. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $104.49 and a 200 day moving average price of $104.27. The company has a market cap of $35.69 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 0.89 and a beta of 1.04.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $8.35 billion during the quarter. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

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

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.