Capital Advisors Inc. OK Makes New $30.23 Million Investment in Prudential Financial, Inc. (NYSE:PRU)

Capital Advisors Inc. OK bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 249,594 shares of the financial services provider’s stock, valued at approximately $30,226,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creekmur Asset Management LLC raised its holdings in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Prudential Financial during the second quarter valued at approximately $29,000. Strategic Financial Concepts LLC raised its stake in shares of 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 worth $32,000 after purchasing an additional 25,027 shares during the period. Crewe Advisors LLC bought a new stake in Prudential Financial in the first quarter worth about $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial in the first quarter valued at approximately $34,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday. Wells Fargo & Company raised their price target on Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Morgan Stanley dropped their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a 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 company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, UBS Group increased their price objective on 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 assigned 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.77.

Prudential Financial Stock Down 1.0 %

Shares of PRU stock 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 stock’s fifty day moving average price is $121.10 and its 200 day moving average price is $118.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $43.30 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.66%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the business posted $3.44 earnings per share. On average, research 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 disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.29%. Prudential Financial’s dividend payout ratio is currently 46.22%.

About Prudential Financial

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.