Brookstone Capital Management Increases Holdings in Prudential Financial, Inc. $PRU

Brookstone Capital Management raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 109,162 shares of the financial services provider’s stock after buying an additional 3,292 shares during the period. Brookstone Capital Management’s holdings in Prudential Financial were worth $11,728,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. VCI Wealth Management LLC grew its position in shares of Prudential Financial by 14.5% during the 2nd quarter. VCI Wealth Management LLC now owns 18,164 shares of the financial services provider’s stock valued at $1,952,000 after acquiring an additional 2,305 shares during the period. Klingman & Associates LLC bought a new stake in shares of Prudential Financial during the 2nd quarter valued at $208,000. Avidian Wealth Enterprises LLC grew its position in shares of Prudential Financial by 4.5% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 6,080 shares of the financial services provider’s stock valued at $653,000 after acquiring an additional 262 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Prudential Financial by 0.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 115,229 shares of the financial services provider’s stock valued at $12,339,000 after acquiring an additional 887 shares during the period. Finally, Bogart Wealth LLC grew its position in shares of Prudential Financial by 4.0% during the 2nd quarter. Bogart Wealth LLC now owns 104,491 shares of the financial services provider’s stock valued at $11,226,000 after acquiring an additional 4,062 shares during the period. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PRU shares. Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Piper Sandler cut their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday, October 8th. Morgan Stanley upped their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Finally, Barclays dropped their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. One 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 stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $122.27.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

Prudential Financial Trading Up 0.2%

Shares of Prudential Financial stock opened at $102.05 on Thursday. The company has a market capitalization of $35.92 billion, a P/E ratio of 22.63, a P/E/G ratio of 0.90 and a beta of 1.04. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The company has a fifty day moving average of $104.86 and a 200 day moving average of $104.11.

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

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.3%. Prudential Financial’s payout ratio is presently 119.73%.

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.