Miles Capital Inc. Acquires 491 Shares of Prudential Financial Inc (NYSE:PRU)

Miles Capital Inc. increased its holdings in Prudential Financial Inc (NYSE:PRU) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,933 shares of the financial services provider’s stock after acquiring an additional 491 shares during the quarter. Prudential Financial comprises about 0.9% of Miles Capital Inc.’s investment portfolio, making the stock its 24th biggest holding. Miles Capital Inc.’s holdings in Prudential Financial were worth $1,104,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Atlantic Union Bankshares Corp bought a new position in shares of Prudential Financial in the 2nd quarter worth about $2,669,000. Goelzer Investment Management Inc. increased its stake in shares of Prudential Financial by 0.9% in the 2nd quarter. Goelzer Investment Management Inc. now owns 96,523 shares of the financial services provider’s stock worth $9,749,000 after acquiring an additional 874 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Prudential Financial in the 1st quarter worth about $294,000. DekaBank Deutsche Girozentrale increased its stake in shares of Prudential Financial by 4.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 515,961 shares of the financial services provider’s stock worth $51,009,000 after acquiring an additional 21,771 shares in the last quarter. Finally, Naples Global Advisors LLC increased its stake in shares of Prudential Financial by 7.1% in the 2nd quarter. Naples Global Advisors LLC now owns 7,364 shares of the financial services provider’s stock worth $744,000 after acquiring an additional 490 shares in the last quarter. Institutional investors own 63.57% of the company’s stock.

NYSE:PRU traded up $0.09 on Thursday, reaching $88.11. 121,788 shares of the stock traded hands, compared to its average volume of 2,093,885. The company has a market capitalization of $33.85 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 0.75 and a beta of 1.55. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29. Prudential Financial Inc has a 12 month low of $75.61 and a 12 month high of $106.64. The company’s fifty day simple moving average is $85.92 and its 200 day simple moving average is $95.52.



Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.22 by ($0.08). The firm had revenue of $14.11 billion for the quarter, compared to the consensus estimate of $13.63 billion. Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. During the same quarter in the prior year, the business posted $3.01 earnings per share. Equities analysts anticipate that Prudential Financial Inc will post 12.4 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, August 19th. Prudential Financial’s payout ratio is presently 34.22%.

A number of analysts have weighed in on the stock. B. Riley lowered shares of Prudential Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $122.00 to $100.00 in a research note on Thursday, August 1st. Citigroup lowered shares of Prudential Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $112.00 to $94.00 in a research note on Monday, August 5th. Goldman Sachs Group lowered shares of Prudential Financial from a “conviction-buy” rating to a “buy” rating and reduced their price objective for the company from $107.00 to $99.00 in a research note on Thursday. UBS Group raised their price objective on shares of Prudential Financial from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, ValuEngine lowered shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $101.05.

In related news, EVP Robert Falzon purchased 3,580 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $83.98 per share, with a total value of $300,648.40. Following the acquisition, the executive vice president now directly owns 64,228 shares in the company, valued at approximately $5,393,867.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles F. Lowrey purchased 7,500 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $83.68 per share, for a total transaction of $627,600.00. Following the acquisition, the chief executive officer now owns 64,263 shares in the company, valued at $5,377,527.84. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 13,580 shares of company stock worth $1,137,848. Insiders own 0.76% of the company’s stock.

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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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