Prudential Financial, Inc. (PRU) Position Increased by RKL Wealth Management LLC
RKL Wealth Management LLC lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 22.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,950 shares of the financial services provider’s stock after purchasing an additional 1,808 shares during the period. RKL Wealth Management LLC’s holdings in Prudential Financial were worth $1,058,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PRU. Xact Kapitalforvaltning AB lifted its position in Prudential Financial by 9.7% during the second quarter. Xact Kapitalforvaltning AB now owns 101,780 shares of the financial services provider’s stock valued at $11,006,000 after buying an additional 9,007 shares in the last quarter. Trust Co lifted its position in Prudential Financial by 1.0% in the first quarter. Trust Co now owns 2,024 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 20 shares during the period. Hexavest Inc. bought a new position in Prudential Financial in the second quarter worth $20,091,000. BKD Wealth Advisors LLC lifted its position in Prudential Financial by 21.3% in the second quarter. BKD Wealth Advisors LLC now owns 4,890 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 860 shares during the period. Finally, Capital One National Association lifted its position in Prudential Financial by 138.0% in the second quarter. Capital One National Association now owns 18,056 shares of the financial services provider’s stock worth $1,953,000 after purchasing an additional 10,468 shares during the period. Hedge funds and other institutional investors own 64.48% of the company’s stock.
In other Prudential Financial news, insider Nicholas C. Silitch sold 44,860 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the transaction, the insider now owns 27,927 shares in the company, valued at $3,121,400.79. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Charles F. Lowrey sold 44,630 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total value of $4,994,543.30. Following the transaction, the executive vice president now owns 79,354 shares in the company, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.
Several brokerages recently commented on PRU. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $120.00 target price (up from $114.00) on shares of Prudential Financial in a research report on Wednesday, November 8th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. ValuEngine cut Prudential Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. Finally, BidaskClub cut Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Prudential Financial presently has a consensus rating of “Buy” and a consensus target price of $115.13.
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Shares of Prudential Financial, Inc. (PRU) traded up $0.66 during mid-day trading on Thursday, reaching $110.22. The company had a trading volume of 2,026,700 shares, compared to its average volume of 1,857,132. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $46,453.44, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 1.24 and a beta of 1.56. Prudential Financial, Inc. has a 1 year low of $96.71 and a 1 year high of $115.26.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.30. The firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same period last year, the company earned $2.66 earnings per share. analysts expect that Prudential Financial, Inc. will post 10.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a yield of 2.72%. Prudential Financial’s payout ratio is 30.18%.
Prudential Financial Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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