Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Nemes Rush Group LLC

Nemes Rush Group LLC increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,614 shares of the financial services provider’s stock after acquiring an additional 540 shares during the period. Nemes Rush Group LLC’s holdings in Prudential Financial were worth $892,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning raised its holdings in shares of Prudential Financial by 11.6% in the 2nd quarter. Creative Planning now owns 95,214 shares of the financial services provider’s stock worth $11,158,000 after purchasing an additional 9,889 shares in the last quarter. MidWestOne Financial Group Inc. grew its position in Prudential Financial by 6.5% in the second quarter. MidWestOne Financial Group Inc. now owns 2,800 shares of the financial services provider’s stock worth $328,000 after buying an additional 170 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Prudential Financial by 163.8% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 422 shares of the financial services provider’s stock valued at $49,000 after buying an additional 262 shares in the last quarter. Scientech Research LLC acquired a new stake in shares of Prudential Financial during the 2nd quarter valued at $562,000. Finally, Legal & General Group Plc boosted its stake in shares of Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after acquiring an additional 305,143 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $120.81 on Friday. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The business’s 50-day moving average price is $117.29 and its two-hundred day moving average price is $116.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market capitalization of $43.13 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 0.95 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Analysts anticipate that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s payout ratio is presently 88.44%.

Insider Buying and Selling

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PRU has been the subject of several analyst reports. Jefferies Financial Group reduced their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. UBS Group lifted their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Morgan Stanley reduced their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $120.83.

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.