Prudential Financial, Inc. $PRU Shares Bought by Aberdeen Group plc

Aberdeen Group plc grew its position in Prudential Financial, Inc. (NYSE:PRU) by 15.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 357,952 shares of the financial services provider’s stock after purchasing an additional 47,258 shares during the period. Aberdeen Group plc owned approximately 0.10% of Prudential Financial worth $38,380,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PRU. Meeder Asset Management Inc. increased its holdings in shares of Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 111 shares during the period. Cheviot Value Management LLC acquired a new position in shares of Prudential Financial in the first quarter valued at about $26,000. North Capital Inc. acquired a new position in shares of Prudential Financial in the first quarter valued at about $28,000. AlphaQuest LLC increased its holdings in shares of 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 period. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Prudential Financial in the first quarter worth about $30,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Prudential Financial Stock Performance

NYSE PRU opened at $99.08 on Monday. The company has a market cap of $34.88 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04. The stock’s 50 day simple moving average is $105.15 and its 200-day simple moving average is $104.40. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The business had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is 119.73%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler lowered their target price on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Morgan Stanley upped their target price on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Barclays lowered their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Finally, Wolfe Research began coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $122.27.

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.