HBK Sorce Advisory LLC Acquires 1,454 Shares of Prudential Financial, Inc. (NYSE:PRU)

HBK Sorce Advisory LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 18.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,333 shares of the financial services provider’s stock after purchasing an additional 1,454 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Prudential Financial were worth $1,094,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC increased 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 during the last quarter. Lynx Investment Advisory bought a new stake in Prudential Financial in the 2nd quarter worth approximately $29,000. Strategic Financial Concepts LLC increased its stake in Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 25,027 shares during the last quarter. Crewe Advisors LLC bought a new stake in Prudential Financial in the 1st quarter worth approximately $33,000. Finally, ESL Trust Services LLC bought a new stake in Prudential Financial in the 1st quarter worth approximately $34,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

PRU opened at $116.25 on Friday. The business has a fifty day moving average of $117.88 and a 200 day moving average of $115.88. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market cap of $41.50 billion, a P/E ratio of 19.77, a PEG ratio of 0.89 and a beta of 1.30.

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

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s payout ratio is 88.44%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PRU shares. UBS Group lifted their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Citigroup lifted their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Barclays started coverage on Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price for the company. 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, August 12th. Finally, JPMorgan Chase & Co. lifted their target price on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $120.83.

Insider Transactions at Prudential Financial

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