Courier Capital LLC Boosts Stake in Prudential Financial, Inc. $PRU

Courier Capital LLC lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,674 shares of the financial services provider’s stock after buying an additional 460 shares during the period. Courier Capital LLC’s holdings in Prudential Financial were worth $2,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 111 shares during the period. Cheviot Value Management LLC purchased a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $26,000. North Capital Inc. purchased a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $28,000. AlphaQuest LLC raised its stake in shares of Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 245 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $30,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 2.1%

PRU stock opened at $101.22 on Tuesday. The company has a fifty day moving average price of $105.14 and a 200 day moving average price of $104.34. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The company has a market cap of $35.63 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 0.88 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.

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

Prudential Financial Announces Dividend

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

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PRU. Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Barclays dropped 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 report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company dropped 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 report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.