Commonwealth Equity Services LLC Grows Stake in Prudential Financial, Inc. (NYSE:PRU)

Commonwealth Equity Services LLC raised its position in Prudential Financial, Inc. (NYSE:PRU) by 2.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 337,740 shares of the financial services provider’s stock after acquiring an additional 8,115 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Prudential Financial were worth $29,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in Prudential Financial by 148.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 6,801 shares of the financial services provider’s stock valued at $563,000 after buying an additional 4,059 shares during the period. Pictet Asset Management SA grew its position in shares of Prudential Financial by 2.4% during the 1st quarter. Pictet Asset Management SA now owns 197,301 shares of the financial services provider’s stock valued at $16,325,000 after acquiring an additional 4,601 shares during the period. Perpetual Ltd purchased a new stake in shares of Prudential Financial in the 1st quarter worth $215,000. Argent Trust Co raised its holdings in Prudential Financial by 1.6% in the 1st quarter. Argent Trust Co now owns 12,884 shares of the financial services provider’s stock worth $1,066,000 after purchasing an additional 203 shares during the period. Finally, Brookstone Capital Management lifted its position in Prudential Financial by 11.9% during the second quarter. Brookstone Capital Management now owns 5,705 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 605 shares in the last quarter. 54.92% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 1.2 %

Shares of Prudential Financial stock opened at $95.75 on Monday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.70. The firm has a market cap of $34.57 billion, a price-to-earnings ratio of 61.77, a PEG ratio of 0.77 and a beta of 1.39. Prudential Financial, Inc. has a twelve month low of $75.37 and a twelve month high of $108.83. The business has a 50-day moving average price of $93.77 and a 200-day moving average price of $90.62.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.28. The business had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $12.91 billion. Prudential Financial had a return on equity of 16.03% and a net margin of 1.21%. During the same quarter last year, the business posted $2.13 EPS. Equities research analysts anticipate that Prudential Financial, Inc. will post 11.71 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Tuesday, November 21st will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $5.00 annualized dividend and a yield of 5.22%. Prudential Financial’s dividend payout ratio (DPR) is currently 322.58%.

Analyst Upgrades and Downgrades

PRU has been the topic of several recent research reports. TheStreet downgraded Prudential Financial from a “b” rating to a “c” rating in a research note on Wednesday, November 1st. Jefferies Financial Group upgraded shares of Prudential Financial from an “underperform” rating to a “hold” rating and raised their target price for the stock from $70.00 to $93.00 in a research note on Wednesday, September 13th. Piper Sandler upped their price target on shares of Prudential Financial from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, August 3rd. StockNews.com began coverage on shares of Prudential Financial in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 target price on shares of Prudential Financial in a report on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $103.00.

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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.