Clarkston Capital Partners LLC Has $1.61 Million Holdings in Prudential Financial, Inc. $PRU

Clarkston Capital Partners LLC raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 20.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the financial services provider’s stock after buying an additional 2,500 shares during the period. Clarkston Capital Partners LLC’s holdings in Prudential Financial were worth $1,612,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Prudential Financial by 1.4% in the second quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock valued at $4,566,432,000 after acquiring an additional 600,482 shares during the last quarter. Geode Capital Management LLC grew its stake in Prudential Financial by 1.8% in the second quarter. Geode Capital Management LLC now owns 9,402,393 shares of the financial services provider’s stock valued at $1,010,474,000 after purchasing an additional 163,874 shares in the last quarter. Invesco Ltd. increased its position in shares of Prudential Financial by 2.7% during the 1st quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock worth $495,859,000 after purchasing an additional 116,079 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Prudential Financial by 19.2% during 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. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Prudential Financial by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,408,942 shares of the financial services provider’s stock valued at $258,817,000 after buying an additional 31,088 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the transaction, the chairman directly owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a report on Tuesday. Wolfe Research began coverage on Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. Keefe, Bruyette & Woods upped their price objective on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Finally, Evercore ISI lifted their target price 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. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $119.50.

Prudential Financial Trading Down 0.3%

Shares of PRU stock opened at $108.02 on Friday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a market capitalization of $37.81 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. The firm has a 50 day moving average price of $103.83 and a two-hundred day moving average price of $104.87. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The company had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s payout ratio is presently 74.18%.

Prudential Financial Company 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.