RKL Wealth Management LLC boosted its stake in shares of Prudential Financial Inc (NYSE:PRU) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,708 shares of the financial services provider’s stock after purchasing an additional 192 shares during the period. RKL Wealth Management LLC’s holdings in Prudential Financial were worth $1,284,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Atlantic Union Bankshares Corp bought a new position in Prudential Financial during the second quarter valued at approximately $2,669,000. Goelzer Investment Management Inc. increased its holdings in Prudential Financial by 0.9% during the second quarter. Goelzer Investment Management Inc. now owns 96,523 shares of the financial services provider’s stock valued at $9,749,000 after buying an additional 874 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in Prudential Financial by 19.7% during the first quarter. First Republic Investment Management Inc. now owns 14,882 shares of the financial services provider’s stock valued at $1,367,000 after buying an additional 2,447 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Prudential Financial during the first quarter valued at approximately $294,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in Prudential Financial by 4.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 515,961 shares of the financial services provider’s stock valued at $51,009,000 after buying an additional 21,771 shares during the last quarter. Institutional investors own 63.65% of the company’s stock.
Shares of NYSE PRU traded up $1.94 during midday trading on Friday, reaching $82.03. The stock had a trading volume of 2,602,300 shares, compared to its average volume of 2,497,022. The stock has a 50-day moving average of $96.54 and a 200-day moving average of $97.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market capitalization of $32.20 billion, a price-to-earnings ratio of 7.02, a price-to-earnings-growth ratio of 0.71 and a beta of 1.49. Prudential Financial Inc has a 12-month low of $75.61 and a 12-month high of $106.64.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.88%. Prudential Financial’s dividend payout ratio (DPR) is presently 34.22%.
A number of analysts have commented on PRU shares. UBS Group cut shares of Prudential Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $116.00 to $112.00 in a report on Monday, May 13th. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating and set a $90.00 target price for the company in a report on Monday, August 12th. Barclays set a $108.00 target price on shares of Prudential Financial and gave the company a “buy” rating in a report on Monday, August 12th. Atlantic Securities cut shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. Finally, Citigroup cut shares of Prudential Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $112.00 to $94.00 in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $104.15.
Prudential Financial Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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