Stephens Inc. AR Acquires 5,480 Shares of Prudential Financial, Inc. (NYSE:PRU)

Stephens Inc. AR increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,648 shares of the financial services provider’s stock after acquiring an additional 5,480 shares during the quarter. Stephens Inc. AR’s holdings in Prudential Financial were worth $12,431,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Creekmur Asset Management LLC lifted its stake in shares of Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after buying an additional 108 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $29,000. Strategic Financial Concepts LLC increased its position in shares of Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 25,027 shares during the period. Crewe Advisors LLC bought a new position in Prudential Financial in the first quarter worth $33,000. Finally, ESL Trust Services LLC acquired a new stake in Prudential Financial during the first quarter worth $34,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Trading Down 1.0 %

PRU opened at $121.28 on Friday. Prudential Financial, Inc. has a 1-year low of $89.90 and a 1-year high of $128.52. The firm has a 50-day moving average price of $121.10 and a two-hundred day moving average price of $118.25. The stock has a market capitalization of $43.30 billion, a PE ratio of 10.78, a PEG ratio of 0.97 and a beta of 1.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.66% and a net margin of 6.03%. During the same quarter in the prior year, the business earned $3.44 EPS. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.29%. Prudential Financial’s payout ratio is presently 46.22%.

Analysts Set New Price Targets

PRU has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. Morgan Stanley cut their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company upped their price target on Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Citigroup lifted their price objective on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, UBS Group upped their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.77.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.