Sanctuary Advisors LLC bought a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 55,465 shares of the financial services provider's stock, valued at approximately $6,129,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Creekmur Asset Management LLC boosted its holdings in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Prudential Financial in the second quarter valued at $29,000. Strategic Financial Concepts LLC grew its position in Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider's stock worth $32,000 after purchasing an additional 25,027 shares during the period. Crewe Advisors LLC purchased a new position in shares of Prudential Financial during the 1st quarter valued at about $33,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Prudential Financial in the first quarter worth about $34,000. Institutional investors and hedge funds own 56.83% of the company's stock.
In other news, EVP Ann M. Kappler sold 2,839 shares of the business's 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 transaction, the executive vice president now owns 14,535 shares of the company's stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial 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 transaction, the executive vice president now directly owns 14,535 shares of the company's stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares of the company's stock, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.
A number of brokerages have recently commented on PRU. 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. Barclays initiated coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $118.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $118.00 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, July 2nd. Piper Sandler increased their price target on Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Morgan Stanley cut their price objective on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $123.36.
Read Our Latest Analysis on PRU
Shares of PRU opened at $122.99 on Friday. The stock has a 50 day moving average price of $116.93 and a 200 day moving average price of $116.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $44.15 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 0.96 and a beta of 1.30. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52.
Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts' consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business 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 13.3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Tuesday, August 20th. Prudential Financial's dividend payout ratio (DPR) is currently 88.44%.
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.
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