Narwhal Capital Management Makes New $202,000 Investment in Prudential Financial, Inc. (NYSE:PRU)

Narwhal Capital Management bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,666 shares of the financial services provider’s stock, valued at approximately $202,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC increased its position in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $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 valued at approximately $29,000. Strategic Financial Concepts LLC raised its holdings in 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 worth $32,000 after purchasing an additional 25,027 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Prudential Financial in the first quarter valued at $33,000. Finally, ESL Trust Services LLC acquired a new position in shares of Prudential Financial during the 1st quarter worth $34,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $125.63 on Wednesday. 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 fifty-two week low of $87.95 and a fifty-two week high of $128.52. The business has a 50 day moving average price of $119.51 and a two-hundred day moving average price of $117.64. The firm has a market cap of $44.85 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Sell-side analysts expect that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.14%. Prudential Financial’s dividend payout ratio (DPR) is presently 66.84%.

Insider Transactions at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s 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 directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PRU. UBS Group raised their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Morgan Stanley decreased their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Piper Sandler lifted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Barclays initiated coverage on Prudential Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $123.69.

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.