Coldstream Capital Management Inc. Acquires 775 Shares of Prudential Financial, Inc. (NYSE:PRU)

Coldstream Capital Management Inc. boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,722 shares of the financial services provider’s stock after purchasing an additional 775 shares during the period. Coldstream Capital Management Inc.’s holdings in Prudential Financial were worth $1,424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. Sequoia Financial Advisors LLC lifted its holdings in Prudential Financial by 1.4% during the second quarter. Sequoia Financial Advisors LLC now owns 7,554 shares of the financial services provider’s stock worth $885,000 after acquiring an additional 105 shares in the last quarter. ORG Partners LLC bought a new position in Prudential Financial during the second quarter worth about $156,000. Fiduciary Financial Group LLC bought a new stake in shares of Prudential Financial in the second quarter valued at about $443,000. Silver Lake Advisory LLC bought a new stake in shares of Prudential Financial in the second quarter valued at about $332,000. Finally, Ellsworth Advisors LLC lifted its holdings in shares of Prudential Financial by 3.2% in the second quarter. Ellsworth Advisors LLC now owns 49,345 shares of the financial services provider’s stock valued at $5,783,000 after purchasing an additional 1,528 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research reports. Jefferies Financial Group boosted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Morgan Stanley cut their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Piper Sandler boosted their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $126.33.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $120.06 on Thursday. The business’s 50 day moving average price is $124.98 and its two-hundred day moving average price is $120.44. The company has a market cap of $42.74 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a twelve month low of $100.60 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the business earned $3.44 earnings per share. On average, analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

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.