Prudential Financial, Inc. $PRU Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 61.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,670 shares of the financial services provider’s stock after purchasing an additional 94,664 shares during the period. Franklin Resources Inc. owned approximately 0.07% of Prudential Financial worth $26,825,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its position in Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after buying 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. Cheviot Value Management LLC purchased a new stake in Prudential Financial during the 1st quarter worth approximately $26,000. Clearstead Trust LLC raised its position in shares of Prudential Financial by 350.8% in the 1st 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 in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Prudential Financial during the 1st quarter valued at approximately $45,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PRU shares. Morgan Stanley lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Barclays reduced their price target on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Prudential Financial in a report on Tuesday. Finally, Evercore ISI upped their price objective on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $119.50.

Insider Transactions at Prudential Financial

In other news, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the transaction, the chairman owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Prudential Financial Price Performance

PRU opened at $108.02 on Friday. 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’s 50-day moving average price is $103.83 and its 200 day moving average price is $104.87. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The firm has a market cap of $37.81 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last posted its earnings results 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 return on equity of 16.98% and a net margin of 4.65%. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 5.0%. Prudential Financial’s dividend payout ratio (DPR) is currently 74.18%.

About Prudential Financial

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.