Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Perritt Capital Management Inc

Perritt Capital Management Inc raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.8% during the 2nd quarter, Holdings Channel reports. The firm owned 5,386 shares of the financial services provider’s stock after buying an additional 199 shares during the quarter. Perritt Capital Management Inc’s holdings in Prudential Financial were worth $631,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gilbert & Cook Inc. raised its position in Prudential Financial by 3.5% during the fourth quarter. Gilbert & Cook Inc. now owns 10,226 shares of the financial services provider’s stock worth $1,061,000 after acquiring an additional 344 shares during the period. Teacher Retirement System of Texas lifted its stake in Prudential Financial by 10.4% in the 4th quarter. Teacher Retirement System of Texas now owns 35,425 shares of the financial services provider’s stock valued at $3,674,000 after buying an additional 3,329 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Prudential Financial by 2.9% in the 4th quarter. QRG Capital Management Inc. now owns 14,139 shares of the financial services provider’s stock worth $1,466,000 after buying an additional 398 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Prudential Financial by 6.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 17,853 shares of the financial services provider’s stock valued at $1,852,000 after acquiring an additional 1,151 shares during the last quarter. Finally, Quotient Wealth Partners LLC purchased a new position in shares of Prudential Financial in the fourth quarter valued at approximately $224,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRU has been the subject of several research reports. JPMorgan Chase & Co. boosted their price target on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a report on Monday, August 12th. Jefferies Financial Group decreased their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Finally, Citigroup raised their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $120.83.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the purchase, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 on Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the purchase, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Trading Up 0.0 %

Shares of Prudential Financial stock opened at $114.72 on Thursday. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $41.18 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 0.88 and a beta of 1.30. The stock has a 50 day moving average of $117.95 and a 200 day moving average of $115.82.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. As a group, research analysts predict that Prudential Financial, Inc. will post 13.31 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.53%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Prudential Financial Company Profile

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.