SteelPeak Wealth LLC Has $1.19 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

SteelPeak Wealth LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 192.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,165 shares of the financial services provider’s stock after purchasing an additional 6,684 shares during the period. SteelPeak Wealth LLC’s holdings in Prudential Financial were worth $1,191,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cambridge Trust Co. boosted its stake in Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares during the period. Creekmur Asset Management LLC boosted its stake in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new stake in Prudential Financial during the 2nd quarter worth approximately $29,000. Crewe Advisors LLC acquired a new stake in Prudential Financial in the first quarter valued at $33,000. Finally, ESL Trust Services LLC bought a new position in shares of Prudential Financial during the first quarter worth about $34,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

Shares of PRU traded up $2.16 during trading hours on Thursday, reaching $113.56. 2,023,313 shares of the company’s stock traded hands, compared to its average volume of 1,505,067. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market cap of $40.77 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.85 and a beta of 1.34. The firm’s 50 day simple moving average is $117.89 and its 200-day simple moving average is $114.35.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.58%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRU. Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a report on Monday. JPMorgan Chase & Co. increased their price objective on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Evercore ISI raised their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. Morgan Stanley lifted their price target on Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Finally, UBS Group boosted their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $119.42.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the acquisition, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

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.