Cambridge Investment Research Advisors Inc. Acquires 9,206 Shares of Prudential Financial, Inc. (NYSE:PRU)

Cambridge Investment Research Advisors Inc. grew its holdings in Prudential Financial, Inc. (NYSE:PRUGet Rating) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,264 shares of the financial services provider’s stock after purchasing an additional 9,206 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Prudential Financial were worth $10,933,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PRU. Gotham Asset Management LLC grew its holdings in shares of Prudential Financial by 215.6% in the fourth quarter. Gotham Asset Management LLC now owns 14,259 shares of the financial services provider’s stock worth $1,543,000 after acquiring an additional 9,741 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of Prudential Financial by 2.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 143,110 shares of the financial services provider’s stock worth $15,490,000 after acquiring an additional 2,963 shares during the period. Mutual Advisors LLC grew its holdings in shares of Prudential Financial by 6.6% in the fourth quarter. Mutual Advisors LLC now owns 17,939 shares of the financial services provider’s stock worth $1,942,000 after acquiring an additional 1,108 shares during the period. Blair William & Co. IL grew its holdings in shares of Prudential Financial by 18.5% in the fourth quarter. Blair William & Co. IL now owns 45,474 shares of the financial services provider’s stock worth $4,922,000 after acquiring an additional 7,106 shares during the period. Finally, Clearstead Advisors LLC grew its holdings in shares of Prudential Financial by 5.4% in the fourth quarter. Clearstead Advisors LLC now owns 3,286 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 168 shares during the period. Institutional investors own 57.74% of the company’s stock.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $90.98 on Friday. The stock’s 50-day simple moving average is $97.51 and its 200-day simple moving average is $103.33. Prudential Financial, Inc. has a 52 week low of $89.73 and a 52 week high of $124.22. The company has a market capitalization of $33.84 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.04 and a beta of 1.40. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.68.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 23rd were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.80 annualized dividend and a dividend yield of 5.28%. Prudential Financial’s dividend payout ratio (DPR) is 88.89%.

Wall Street Analyst Weigh In

PRU has been the subject of several research analyst reports. Royal Bank of Canada cut their price objective on Prudential Financial from $125.00 to $112.00 and set a “sector perform” rating for the company in a report on Monday, July 11th. Barclays cut their price objective on Prudential Financial from $115.00 to $95.00 and set an “equal weight” rating for the company in a report on Wednesday, July 13th. The Goldman Sachs Group lowered their target price on Prudential Financial from $116.00 to $99.00 and set a “neutral” rating on the stock in a research report on Monday, June 6th. Wells Fargo & Company lifted their target price on Prudential Financial from $95.00 to $101.00 and gave the company an “equal weight” rating in a research report on Thursday, August 4th. Finally, Morgan Stanley lifted their target price on Prudential Financial from $103.00 to $108.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $105.62.

About Prudential Financial

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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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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