Lynx Investment Advisory Invests $29,000 in Prudential Financial, Inc. (NYSE:PRU)

Lynx Investment Advisory purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 252 shares of the financial services provider’s stock, valued at approximately $29,000.

Several other institutional investors have also recently bought and sold shares of PRU. Rise Advisors LLC raised its holdings in shares of Prudential Financial by 7.8% in the 2nd quarter. Rise Advisors LLC now owns 3,127 shares of the financial services provider’s stock worth $366,000 after acquiring an additional 227 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Prudential Financial by 67.1% in the second quarter. Mather Group LLC. now owns 1,133 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 455 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its position in shares of Prudential Financial by 94.1% during the second quarter. Sugarloaf Wealth Management LLC now owns 1,458 shares of the financial services provider’s stock valued at $171,000 after buying an additional 707 shares during the last quarter. Bank & Trust Co bought a new stake in Prudential Financial during the second quarter worth $37,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Prudential Financial in the 2nd quarter valued at $82,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PRU shares. Piper Sandler lowered their target price on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Wells Fargo & Company boosted their target price on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Citigroup lifted their price target on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their price objective on Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $118.25.

Insider Activity at Prudential Financial

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

Prudential Financial Stock Performance

NYSE:PRU traded up $0.94 on Wednesday, reaching $107.99. 742,608 shares of the company’s stock were exchanged, compared to its average volume of 1,495,101. The firm has a market cap of $38.77 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 0.86 and a beta of 1.34. 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 stock has a fifty day simple moving average of $119.03 and a 200-day simple moving average of $114.25. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52.

Prudential Financial Dividend Announcement

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 given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.82%. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

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.