KMG Fiduciary Partners LLC Grows Stock Position in Prudential Financial, Inc. $PRU

KMG Fiduciary Partners LLC boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 24.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,147 shares of the financial services provider’s stock after buying an additional 11,657 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Prudential Financial were worth $6,384,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Jessup Wealth Management Inc bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial during the 4th quarter worth approximately $26,000. Salomon & Ludwin LLC grew its position in Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 114 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Prudential Financial by 93.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 134 shares during the last quarter. Finally, Coston McIsaac & Partners increased its stake in Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.6%

Shares of NYSE:PRU opened at $121.95 on Tuesday. The business’s 50-day moving average is $113.28 and its 200 day moving average is $104.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $127.72. The firm has a market capitalization of $42.07 billion, a P/E ratio of 11.05, a P/E/G ratio of 2.35 and a beta of 0.84.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.52 by $0.56. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same period last year, the firm posted $3.58 EPS. On average, research analysts predict that Prudential Financial, Inc. will post 13.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PRU shares. Barclays boosted their target price on shares of Prudential Financial from $90.00 to $92.00 and gave the company an “underweight” rating in a research note on Tuesday, July 7th. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Piper Sandler raised their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Jefferies Financial Group lifted their price target on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Finally, Mizuho increased their price objective on Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Reduce” and an average price target of $105.46.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the transaction, the insider owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Prudential Financial 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.