Prospera Financial Services Inc Increases Holdings in Prudential Financial, Inc. $PRU

Prospera Financial Services Inc lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 15.2% during the second quarter, HoldingsChannel reports. The firm owned 10,472 shares of the financial services provider’s stock after purchasing an additional 1,378 shares during the quarter. Prospera Financial Services Inc’s holdings in Prudential Financial were worth $1,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PRU. Econ Financial Services Corp bought a new position in shares of Prudential Financial during the 2nd quarter valued at approximately $1,662,000. Nordea Investment Management AB raised its holdings in shares of Prudential Financial by 49.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock worth $184,192,000 after purchasing an additional 567,571 shares during the period. Brookwood Investment Group LLC purchased a new position in Prudential Financial in the second quarter valued at approximately $289,000. Acadian Asset Management LLC grew its holdings in Prudential Financial by 3.0% during the first quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider’s stock valued at $12,217,000 after purchasing an additional 3,183 shares during the period. Finally, AE Wealth Management LLC increased its position in Prudential Financial by 30.2% in the second quarter. AE Wealth Management LLC now owns 213,795 shares of the financial services provider’s stock worth $22,970,000 after buying an additional 49,550 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In other Prudential Financial news, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the sale, the chairman owned 165,564 shares of the company’s stock, valued at $17,779,917.96. This trade represents a 22.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction dated 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 directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Piper Sandler cut their price target on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. Wolfe Research assumed coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Wells Fargo & Company reduced their target price on shares of 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. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Barclays reduced their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $120.73.

Prudential Financial Trading Up 0.9%

Shares of Prudential Financial stock opened at $107.71 on Thursday. The company’s 50-day moving average price is $103.69 and its 200-day moving average price is $104.64. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a market cap of $37.70 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.88 and a beta of 1.05.

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

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $5.40 annualized dividend and a dividend yield of 5.0%. Prudential Financial’s dividend payout ratio is presently 74.18%.

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.