Pure Financial Advisors LLC Purchases New Shares in Prudential Financial, Inc. $PRU

Pure Financial Advisors LLC acquired a new position in Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,285 shares of the financial services provider’s stock, valued at approximately $570,000.

A number of other large investors have also recently modified their holdings of PRU. Corient Private Wealth LP purchased a new position in shares of Prudential Financial during the second quarter valued at about $15,617,000. Bank of America Corp DE purchased a new stake in Prudential Financial in the second quarter worth about $208,957,000. Caisse de depot et placement du Quebec boosted its position in Prudential Financial by 1,014.7% during the 2nd quarter. Caisse de depot et placement du Quebec now owns 160,131 shares of the financial services provider’s stock valued at $17,283,000 after acquiring an additional 145,766 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of Prudential Financial during the 2nd quarter worth approximately $5,212,000. Finally, EFG International AG raised its position in shares of Prudential Financial by 452.2% in the 2nd quarter. EFG International AG now owns 381 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 312 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the sale, the insider directly owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. This represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 7,652 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the sale, the executive vice president owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by insiders.

Prudential Financial Stock Performance

Shares of PRU opened at $120.43 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. The stock has a market cap of $41.55 billion, a P/E ratio of 10.91, a P/E/G ratio of 2.26 and a beta of 0.84. The business’s 50 day moving average price is $117.69 and its 200-day moving average price is $106.17. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $127.72.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter last year, the company earned $3.58 EPS. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $1.40 per share. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 annualized dividend and a dividend yield of 4.6%. Prudential Financial’s dividend payout ratio (DPR) is presently 50.72%.

Analyst Ratings Changes

A number of research firms have recently commented on PRU. JPMorgan Chase & Co. raised their target price on Prudential Financial from $129.00 to $131.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. Zacks Research upgraded Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Wells Fargo & Company raised their price objective on Prudential Financial from $103.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods boosted their target price on shares of Prudential Financial from $113.00 to $123.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. Finally, Jefferies Financial Group upped their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $109.31.

About Prudential Financial

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.