Cambridge Investment Research Advisors Inc. grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,873 shares of the financial services provider’s stock after purchasing an additional 1,042 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Prudential Financial were worth $9,722,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of PRU. Stephenson National Bank & Trust lifted its holdings in shares of Prudential Financial by 76.4% during the 2nd quarter. Stephenson National Bank & Trust now owns 254 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Meridian Wealth Partners LLC purchased a new stake in shares of Prudential Financial during the 1st quarter valued at $27,000. Rockbridge Investment Management LCC lifted its holdings in shares of Prudential Financial by 65.1% during the 2nd quarter. Rockbridge Investment Management LCC now owns 289 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 114 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Prudential Financial during the 1st quarter valued at $31,000. Finally, Prime Capital Investment Advisors LLC lifted its holdings in shares of Prudential Financial by 67.2% during the 1st quarter. Prime Capital Investment Advisors LLC now owns 388 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 56.14% of the company’s stock.
NYSE PRU opened at $103.14 on Friday. The stock has a 50-day simple moving average of $103.37 and a two-hundred day simple moving average of $100.84. The firm has a market capitalization of $39.81 billion, a P/E ratio of 5.70, a PEG ratio of 0.65 and a beta of 1.70. Prudential Financial, Inc. has a fifty-two week low of $60.16 and a fifty-two week high of $109.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.11 and a current ratio of 0.11.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 16th. Stockholders of record on Tuesday, August 24th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date was Monday, August 23rd. Prudential Financial’s dividend payout ratio (DPR) is presently 45.05%.
In other news, SVP Timothy L. Schmidt sold 6,579 shares of the firm’s stock in a transaction dated Tuesday, August 24th. The stock was sold at an average price of $104.91, for a total transaction of $690,202.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.
Several brokerages have recently commented on PRU. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a report on Friday, June 18th. Royal Bank of Canada raised their target price on Prudential Financial from $108.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 5th. They noted that the move was a valuation call. Barclays raised their target price on Prudential Financial from $102.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday. raised their target price on Prudential Financial from $97.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, June 21st. Finally, Morgan Stanley reduced their target price on Prudential Financial from $107.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 4th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $101.50.
About Prudential Financial
Prudential Financial, Inc engages in the provision of financial products and services including life insurance, annuities, mutual funds, and investment management to both individual and institutional customers. It operates through the following segments: PGIM, International Businesses, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, Closed Block, and Corporate and Others.
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