Prudential Financial, Inc. $PRU Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 30.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,795 shares of the financial services provider’s stock after buying an additional 49,550 shares during the period. AE Wealth Management LLC owned approximately 0.06% of Prudential Financial worth $22,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in PRU. Fox Run Management L.L.C. acquired a new position in shares of Prudential Financial during the second quarter valued at about $650,000. Penserra Capital Management LLC grew its position in Prudential Financial by 11.1% during the 2nd quarter. Penserra Capital Management LLC now owns 1,946 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 195 shares during the last quarter. Ipsen Advisor Group LLC increased its stake in Prudential Financial by 5.9% during the 2nd quarter. Ipsen Advisor Group LLC now owns 6,344 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 355 shares in the last quarter. Bryn Mawr Trust Advisors LLC raised its holdings in shares of Prudential Financial by 2.2% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 6,859 shares of the financial services provider’s stock worth $737,000 after buying an additional 146 shares during the last quarter. Finally, Savant Capital LLC lifted its stake in shares of Prudential Financial by 0.6% during the second quarter. Savant Capital LLC now owns 17,811 shares of the financial services provider’s stock worth $1,914,000 after buying an additional 111 shares during the period. Institutional investors and hedge funds 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 that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley upped their target price on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Wells Fargo & Company dropped their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 16th. Evercore ISI raised their price objective on Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Piper Sandler cut their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $120.73.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $106.24 on Friday. The company has a market capitalization of $37.19 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The company’s fifty day moving average price is $103.75 and its 200 day moving average price is $104.55. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share 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, research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current 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 issued a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a yield of 5.1%. 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.