Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $627,000 Stock Position in Prudential Financial, Inc. $PRU

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Prudential Financial, Inc. (NYSE:PRU) by 9.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,836 shares of the financial services provider’s stock after buying an additional 508 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Prudential Financial were worth $627,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. SPC Financial Inc. grew its position in Prudential Financial by 2.6% during the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 100 shares during the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of Prudential Financial by 3.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 101 shares during the last quarter. Thrive Wealth Management LLC increased its stake in shares of Prudential Financial by 2.6% in the second quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock valued at $430,000 after buying an additional 101 shares in the last quarter. Eagle Capital Management LLC raised its holdings in shares of Prudential Financial by 0.3% in the second quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock valued at $3,847,000 after buying an additional 108 shares during the last quarter. Finally, Principle Wealth Partners LLC lifted its position in Prudential Financial by 0.3% during the 1st quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider’s stock worth $4,723,000 after buying an additional 109 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

PRU stock opened at $104.01 on Monday. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. 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 has a market cap of $36.61 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 0.92 and a beta of 1.04. The business’s fifty day moving average is $105.19 and its 200-day moving average is $104.79.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The business had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.47 billion. During the same period in the previous year, the firm earned $3.39 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.2%. Prudential Financial’s dividend payout ratio (DPR) is presently 119.73%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This represents a 15.68% 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. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PRU shares. Morgan Stanley raised their price objective on shares of Prudential Financial from $113.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, August 18th. Barclays raised their price target on shares of Prudential Financial from $119.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Piper Sandler reduced their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. Wells Fargo & Company lowered their target price on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Finally, Wolfe Research started coverage on Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $122.08.

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.