Wambolt & Associates LLC Has $2.77 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Wambolt & Associates LLC lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,556 shares of the financial services provider’s stock after acquiring an additional 549 shares during the period. Wambolt & Associates LLC’s holdings in Prudential Financial were worth $2,769,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Creekmur Asset Management LLC boosted its holdings in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after buying an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new stake in Prudential Financial in the second quarter valued at $29,000. Crewe Advisors LLC acquired a new position in shares of Prudential Financial during the first quarter valued at about $33,000. ESL Trust Services LLC bought a new position in shares of Prudential Financial during the 1st quarter worth about $34,000. Finally, Riverview Trust Co bought a new stake in Prudential Financial in the 1st quarter valued at about $37,000. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PRU. Argus upgraded Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Citigroup boosted their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Barclays started coverage on shares of Prudential Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price objective on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, UBS Group lifted their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial has an average rating of “Hold” and an average price target of $120.83.

Prudential Financial Stock Performance

NYSE PRU opened at $114.72 on Thursday. The company has a 50-day simple moving average of $117.95 and a 200 day simple moving average of $115.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The company has a market capitalization of $41.18 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 0.88 and a beta of 1.30.

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

Prudential Financial Dividend Announcement

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

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s 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 transaction, the executive vice president now directly 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.

About Prudential Financial

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.