2,115 Shares in Prudential Financial, Inc. $PRU Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,115 shares of the financial services provider’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Invesco Ltd. boosted its stake in Prudential Financial by 2.7% during the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock worth $495,859,000 after acquiring an additional 116,079 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Prudential Financial by 19.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock worth $469,777,000 after purchasing an additional 678,028 shares in the last quarter. Ameriprise Financial Inc. raised its position in Prudential Financial by 5.6% in the first quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider’s stock worth $201,201,000 after acquiring an additional 95,021 shares during the period. Amundi raised its position in 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 acquiring an additional 216,119 shares during the period. Finally, Nordea Investment Management AB raised its position 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 worth $184,192,000 after acquiring an additional 567,571 shares during the period. 56.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several 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. Wells Fargo & Company lowered their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a research report on Saturday. Barclays lowered their price target on shares of 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. Finally, Piper Sandler lowered their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average price target of $122.27.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the 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 transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by insiders.

Prudential Financial Stock Performance

Prudential Financial stock opened at $102.23 on Friday. The firm’s 50 day simple moving average is $104.68 and its 200 day simple moving average is $104.27. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $35.99 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share 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%. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.3%. Prudential Financial’s dividend 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.