Perritt Capital Management Inc Boosts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Perritt Capital Management Inc grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,386 shares of the financial services provider’s stock after purchasing an additional 199 shares during the period. Perritt Capital Management Inc’s holdings in Prudential Financial were worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PRU. Creekmur Asset Management LLC grew its stake in Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory purchased a new position in Prudential Financial during the 2nd quarter worth $29,000. Strategic Financial Concepts LLC raised its position in Prudential Financial by 1,312.4% during the 2nd 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 in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Prudential Financial in the 1st quarter worth $33,000. Finally, ESL Trust Services LLC bought a new position in shares of Prudential Financial during the 1st quarter worth $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRU shares. Jefferies Financial Group lowered their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. UBS Group upped their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Barclays began coverage on Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target on the stock. Finally, Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective for the company in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $120.83.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $114.72 on Thursday. The company has a 50 day moving average price of $117.95 and a 200 day moving average price of $115.82. The firm has a market capitalization of $41.18 billion, a P/E ratio of 19.51, a PEG ratio of 0.88 and a beta of 1.30. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Sell-side analysts expect that Prudential Financial, Inc. will post 13.31 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was acquired at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the acquisition, the insider now directly owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.