GAMMA Investing LLC Purchases 3,192 Shares of Prudential Financial, Inc. (NYSE:PRU)

GAMMA Investing LLC boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 99.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,406 shares of the financial services provider’s stock after purchasing an additional 3,192 shares during the quarter. GAMMA Investing LLC’s holdings in Prudential Financial were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cambridge Trust Co. boosted its stake in Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 105 shares during the period. Creekmur Asset Management LLC boosted its position in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. Arlington Trust Co LLC raised its holdings in shares of Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after buying an additional 185 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Prudential Financial during the 1st quarter valued at about $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial in the 1st quarter worth approximately $34,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 3.7 %

NYSE PRU traded down $4.03 during midday trading on Monday, hitting $106.23. 2,185,397 shares of the company traded hands, compared to its average volume of 1,483,286. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $38.14 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.95 and a beta of 1.34. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52. The company’s 50-day simple moving average is $119.53 and its 200-day simple moving average is $114.19.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.90%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the stock in a transaction on Thursday, June 20th. The stock was bought at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the sale, the executive vice president now owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PRU. Keefe, Bruyette & Woods lifted their price objective on Prudential Financial from $118.00 to $121.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Wells Fargo & Company boosted their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Morgan Stanley upped their price target on Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group dropped their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $118.25.

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.