4,335 Shares in Prudential Financial, Inc. $PRU Bought by State of Wyoming

State of Wyoming bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,335 shares of the financial services provider’s stock, valued at approximately $468,000.

Other institutional investors have also modified their holdings of the company. Rossby Financial LCC lifted its position in Prudential Financial by 32.4% in the 4th quarter. Rossby Financial LCC now owns 421 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 103 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Prudential Financial by 5.6% during the fourth quarter. TD Private Client Wealth LLC now owns 1,972 shares of the financial services provider’s stock worth $223,000 after buying an additional 104 shares in the last quarter. Western Wealth Management LLC raised its position in Prudential Financial by 1.7% in the 4th quarter. Western Wealth Management LLC now owns 6,215 shares of the financial services provider’s stock valued at $702,000 after buying an additional 105 shares during the last quarter. Apella Capital LLC boosted its position in Prudential Financial by 3.7% during the 1st quarter. Apella Capital LLC now owns 2,979 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 106 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of Prudential Financial by 3.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 3,238 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.5%

PRU opened at $124.54 on Tuesday. The stock’s fifty day simple moving average is $115.36 and its 200 day simple moving average is $105.33. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $127.72. The stock has a market cap of $42.97 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.38 and a beta of 0.84. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.52 by $0.56. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same period in the previous year, the company earned $3.58 earnings per share. As a group, research analysts expect that Prudential Financial, Inc. will post 14.17 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be given a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $5.60 annualized dividend and a dividend yield of 4.5%. Prudential Financial’s dividend payout ratio is presently 50.72%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the sale, the insider directly owned 7,973,657 shares in the company, valued at $197,348,010.75. The trade was a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PRU. Piper Sandler lifted their price target on shares of Prudential Financial from $110.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Morgan Stanley reiterated an “underweight” rating and set a $92.00 target price (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Mizuho increased their price objective on Prudential Financial from $101.00 to $109.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, BMO Capital Markets lowered their target price on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $107.77.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.