48,313 Shares in Prudential Financial, Inc. $PRU Purchased by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 48,313 shares of the financial services provider’s stock, valued at approximately $5,212,000.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 133 shares during the last quarter. Empowered Funds LLC boosted its stake in Prudential Financial by 30.5% in the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after purchasing an additional 4,134 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Prudential Financial by 3.5% during the second quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 140 shares during the last quarter. AXA S.A. increased its stake in shares of Prudential Financial by 25.8% in the second quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock valued at $6,092,000 after buying an additional 11,630 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Prudential Financial by 15.1% in the second quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock valued at $4,005,000 after buying an additional 4,895 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $117.75 on Tuesday. The firm has a fifty day moving average of $118.14 and a two-hundred day moving average of $106.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $40.62 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 2.45 and a beta of 0.84. 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 results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.56. The business had revenue of $14.15 billion for 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 period last year, the company earned $3.58 EPS. As a group, equities research analysts predict that Prudential Financial, Inc. will post 14.51 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, August 25th. Prudential Financial’s payout ratio is presently 50.72%.

Insider Transactions at Prudential Financial

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PRU shares. TD Cowen upped their price target on shares of Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods upped their target price on shares of Prudential Financial from $113.00 to $123.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. Mizuho increased their price target on shares of Prudential Financial from $101.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $129.00 to $131.00 and gave the company a “neutral” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Prudential Financial presently has a consensus rating of “Reduce” and an average price target of $109.31.

Prudential Financial Company Profile

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.