6,560 Shares in Prudential Financial, Inc. $PRU Purchased by Global Retirement Partners LLC

Global Retirement Partners LLC purchased a new position in Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,560 shares of the financial services provider’s stock, valued at approximately $708,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Munich Reinsurance Co Stock Corp in Munich lifted its stake in Prudential Financial by 2,669.0% in the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 46,990 shares of the financial services provider’s stock worth $5,342,000 after purchasing an additional 45,293 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Prudential Financial by 9.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 171,486 shares of the financial services provider’s stock worth $19,357,000 after buying an additional 14,327 shares in the last quarter. Oxbow Advisors LLC purchased a new position in Prudential Financial during the 4th quarter valued at approximately $6,545,000. Orca Investment Management LLC bought a new stake in Prudential Financial in the 2nd quarter worth approximately $2,605,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Prudential Financial by 4.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 735,934 shares of the financial services provider’s stock valued at $83,801,000 after acquiring an additional 29,720 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

PRU stock opened at $124.55 on Wednesday. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $127.72. The firm has a market cap of $42.97 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 2.38 and a beta of 0.84. The business’s fifty day simple moving average is $115.78 and its two-hundred day simple moving average is $105.44. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial (NYSE:PRU) last posted its quarterly 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. The firm had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same period in the prior year, the business posted $3.58 earnings per share. Analysts predict that Prudential Financial, Inc. will post 14.17 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.5%. Prudential Financial’s payout ratio is presently 50.72%.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of recent research reports. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Mizuho lifted their price target on Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. TD Cowen raised their price objective on Prudential Financial from $102.00 to $114.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. BMO Capital Markets dropped their target price on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a report on Thursday, April 23rd. Finally, Morgan Stanley restated an “underweight” rating and set a $92.00 price target (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $107.77.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 7,652 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares in the company, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the sale, the insider owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. This represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.05% of the stock is owned by corporate insiders.

Prudential Financial Company 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.