Founders Financial Securities LLC Invests $707,000 in Prudential Financial, Inc. (NYSE:PRU)

Founders Financial Securities LLC purchased a new position in Prudential Financial, Inc. (NYSE:PRU) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,035 shares of the financial services provider’s stock, valued at approximately $707,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Annex Advisory Services LLC grew its stake in shares of Prudential Financial by 3.4% in the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock worth $289,000 after buying an additional 81 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of Prudential Financial by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after buying an additional 87 shares during the last quarter. Peoples Bank OH grew its stake in shares of Prudential Financial by 2.3% in the 1st 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 boosted its stake in Prudential Financial by 3.9% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 92 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Prudential Financial by 1.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 1.0 %

PRU opened at $119.55 on Thursday. The firm has a market cap of $42.68 billion, a P/E ratio of 20.33, a P/E/G ratio of 0.94 and a beta of 1.30. Prudential Financial, Inc. has a 12 month low of $87.95 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. The stock has a 50-day moving average of $118.22 and a 200 day moving average of $115.56.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, research analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

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

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the purchase, 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 legal filing with the SEC, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now directly 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 currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on PRU shares. Jefferies Financial Group cut 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. JPMorgan Chase & Co. increased their price target on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. UBS Group increased their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, Citigroup increased their price target on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have issued 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.com, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $119.33.

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.