Vise Technologies Inc. Makes New Investment in Prudential Financial, Inc. $PRU

Vise Technologies Inc. bought a new position in Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,950 shares of the financial services provider’s stock, valued at approximately $1,176,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Econ Financial Services Corp purchased a new stake in shares of Prudential Financial during the second quarter worth $1,662,000. Nordea Investment Management AB raised its holdings in shares of Prudential Financial by 49.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after purchasing an additional 567,571 shares in the last quarter. Brookwood Investment Group LLC acquired a new stake in shares of Prudential Financial during the second quarter worth about $289,000. Acadian Asset Management LLC increased its stake in Prudential Financial by 3.0% in the first quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider’s stock valued at $12,217,000 after purchasing an additional 3,183 shares during the period. Finally, AE Wealth Management LLC increased its stake in Prudential Financial by 30.2% in the 2nd quarter. AE Wealth Management LLC now owns 213,795 shares of the financial services provider’s stock valued at $22,970,000 after buying an additional 49,550 shares during the period. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the transaction, the chairman directly owned 165,564 shares in the company, valued at approximately $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. This trade represents a 15.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PRU has been the subject of several recent analyst reports. Wolfe Research assumed coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 16th. Piper Sandler reduced their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. Finally, Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average price target of $120.73.

Prudential Financial Trading Down 0.1%

Prudential Financial stock traded down $0.15 during trading hours on Thursday, reaching $107.65. 42,113 shares of the company’s stock traded hands, compared to its average volume of 1,715,759. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The firm’s 50 day moving average is $103.69 and its 200-day moving average is $104.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $37.68 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. The business had revenue of $8.35 billion for the quarter. On average, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $5.40 annualized dividend and a dividend yield of 5.0%. Prudential Financial’s payout ratio is presently 74.18%.

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.