Prudential Financial, Inc. $PRU Shares Bought by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 24.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,147 shares of the financial services provider’s stock after buying an additional 11,657 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Prudential Financial were worth $6,384,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PRU. State Street Corp boosted its holdings in Prudential Financial by 1.2% in the fourth quarter. State Street Corp now owns 17,234,061 shares of the financial services provider’s stock valued at $1,945,381,000 after purchasing an additional 210,959 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Prudential Financial by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 9,533,806 shares of the financial services provider’s stock valued at $1,078,904,000 after buying an additional 26,414 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Prudential Financial by 6.7% in the 4th quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock valued at $750,562,000 after buying an additional 420,081 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Prudential Financial by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,758,545 shares of the financial services provider’s stock valued at $367,089,000 after buying an additional 166,641 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Prudential Financial by 95.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock worth $249,769,000 after buying an additional 1,247,371 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

NYSE PRU opened at $121.95 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.16 and a current ratio of 0.16. The stock’s fifty day moving average is $113.28 and its two-hundred day moving average is $104.78. The firm has a market capitalization of $42.07 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 2.35 and a beta of 0.84. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $127.72.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. During the same period in the previous year, the firm earned $3.58 earnings per share. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.92 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Prudential Financial from $106.00 to $113.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Piper Sandler raised their price target on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group boosted their price objective on Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Finally, Bank of America dropped their target price on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $105.46.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the sale, the insider owned 7,973,657 shares of the company’s stock, valued at $197,348,010.75. This trade represents a 2.62% 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. Insiders own 0.05% of the company’s stock.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.