Prudential Financial, Inc. $PRU Shares Bought by Raelipskie Partnership

Raelipskie Partnership increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 11,906 shares of the financial services provider’s stock after acquiring an additional 500 shares during the period. Raelipskie Partnership’s holdings in Prudential Financial were worth $1,279,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in Prudential Financial by 2.7% in the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock valued at $495,859,000 after purchasing an additional 116,079 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Prudential Financial by 19.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock valued at $469,777,000 after buying an additional 678,028 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Prudential Financial by 5.6% during the first quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider’s stock worth $201,201,000 after buying an additional 95,021 shares in the last quarter. Amundi increased its stake in shares of Prudential Financial by 14.1% in the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock worth $183,571,000 after buying an additional 216,119 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Prudential Financial by 49.2% in the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after acquiring an additional 567,571 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Stock Up 0.8%

NYSE PRU opened at $105.27 on Friday. The company has a market capitalization of $36.84 billion, a P/E ratio of 14.46, a PEG ratio of 0.88 and a beta of 1.05. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month 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. The company’s 50 day simple moving average is $103.82 and its 200 day simple moving average is $104.45.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%.The company had revenue of $8.35 billion for the quarter. Equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s payout ratio is presently 74.18%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PRU shares. Morgan Stanley upped their price objective on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Barclays dropped their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Wolfe Research began coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Piper Sandler dropped their target price on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. Finally, Evercore ISI boosted their price target on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $120.73.

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.