Family Firm Inc. Invests $54,000 in Prudential Financial, Inc. (NYSE:PRU)

Family Firm Inc. acquired 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 (SEC). The firm acquired 463 shares of the financial services provider’s stock, valued at approximately $54,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC lifted its stake in shares of Prudential Financial by 4.6% in the fourth quarter. CWM LLC now owns 10,977 shares of the financial services provider’s stock valued at $1,138,000 after buying an additional 480 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of Prudential Financial by 85.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 13,068 shares of the financial services provider’s stock worth $1,355,000 after acquiring an additional 6,017 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $305,000. Bfsg LLC bought a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $90,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Prudential Financial by 7.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,404 shares of the financial services provider’s stock valued at $872,000 after purchasing an additional 550 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 1.9 %

Shares of PRU opened at $117.41 on Friday. 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 company has a market cap of $42.15 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 0.89 and a beta of 1.34. The stock has a fifty day moving average price of $117.80 and a two-hundred day moving average price of $114.87. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52.

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

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.43%. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Analysts Set New Price Targets

Several brokerages have issued reports on PRU. JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Citigroup upped their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a research note on Monday, August 12th. Morgan Stanley dropped their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Piper Sandler decreased their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $119.33.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the company’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 directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of Prudential Financial stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now directly owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

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.