Savvy Advisors Inc. Buys 2,136 Shares of Prudential Financial, Inc. $PRU

Savvy Advisors Inc. boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 37.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,892 shares of the financial services provider’s stock after purchasing an additional 2,136 shares during the period. Savvy Advisors Inc.’s holdings in Prudential Financial were worth $848,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Prudential Financial during the 1st quarter valued at $90,010,000. Goldman Sachs Group Inc. lifted its holdings in Prudential Financial by 19.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock valued at $469,777,000 after acquiring an additional 678,028 shares during the period. Nordea Investment Management AB boosted its position in Prudential Financial by 49.2% in the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock worth $184,192,000 after purchasing an additional 567,571 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Prudential Financial during the 2nd quarter valued at about $28,579,000. Finally, Amundi increased its position in shares of Prudential Financial by 14.1% during the 1st quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after purchasing an additional 216,119 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

NYSE:PRU opened at $102.97 on Friday. The stock has a 50-day moving average price of $104.29 and a 200 day moving average price of $104.28. The stock has a market capitalization of $36.25 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.88 and a beta of 1.04. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The business had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%. Equities research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s payout ratio is currently 119.73%.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. Morgan Stanley raised their target price on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Barclays lowered their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $120.64.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

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.