MUFG Securities EMEA plc bought a new stake in shares of Prudential Financial Inc (NYSE:PRU) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 50,000 shares of the financial services provider’s stock, valued at approximately $5,050,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Coastal Capital Group Inc. purchased a new stake in Prudential Financial during the 2nd quarter worth approximately $25,000. Ibex Wealth Advisors purchased a new position in shares of Prudential Financial during the 2nd quarter valued at approximately $26,000. Bartlett & Co. LLC grew its position in shares of Prudential Financial by 163.0% during the second quarter. Bartlett & Co. LLC now owns 263 shares of the financial services provider’s stock worth $27,000 after buying an additional 163 shares in the last quarter. Berman Capital Advisors LLC grew its position in shares of Prudential Financial by 68.0% during the first quarter. Berman Capital Advisors LLC now owns 346 shares of the financial services provider’s stock worth $31,000 after buying an additional 140 shares in the last quarter. Finally, Advisory Alpha LLC acquired a new stake in shares of Prudential Financial during the first quarter worth approximately $32,000. 63.57% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Charles F. Lowrey bought 7,500 shares of the stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $83.68 per share, with a total value of $627,600.00. Following the completion of the acquisition, the chief executive officer now owns 64,263 shares of the company’s stock, valued at $5,377,527.84. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Tanji purchased 2,500 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were bought at an average price of $83.84 per share, for a total transaction of $209,600.00. Following the completion of the transaction, the chief financial officer now directly owns 19,285 shares in the company, valued at approximately $1,616,854.40. The disclosure for this purchase can be found here. Insiders have acquired 13,580 shares of company stock worth $1,137,848 over the last three months. 0.76% of the stock is owned by corporate insiders.

PRU has been the topic of several recent analyst reports. Wells Fargo & Co set a $115.00 price target on shares of Prudential Financial and gave the company a “buy” rating in a report on Wednesday, July 31st. UBS Group raised their price objective on shares of Prudential Financial from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating and set a $89.00 target price for the company in a research report on Tuesday. B. Riley downgraded shares of Prudential Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $122.00 to $100.00 in a research report on Thursday, August 1st. Finally, Citigroup lowered shares of Prudential Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $112.00 to $94.00 in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $101.25.

Shares of PRU stock traded up $0.77 on Wednesday, hitting $87.48. 147,368 shares of the stock traded hands, compared to its average volume of 2,245,782. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $33.85 billion, a PE ratio of 7.49, a PEG ratio of 0.75 and a beta of 1.55. Prudential Financial Inc has a 1-year low of $75.61 and a 1-year high of $106.64. The company’s fifty day moving average is $86.21 and its 200 day moving average is $95.56.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 return on equity of 9.24% and a net margin of 6.92%. During the same quarter last year, the business earned $3.01 earnings per share. As a group, equities research analysts expect that Prudential Financial Inc will post 12.4 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.57%. Prudential Financial’s dividend payout ratio (DPR) is 34.22%.

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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