TRUE Private Wealth Advisors Buys Shares of 1,556 Prudential Financial Inc (NYSE:PRU)

TRUE Private Wealth Advisors bought a new stake in shares of Prudential Financial Inc (NYSE:PRU) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,556 shares of the financial services provider’s stock, valued at approximately $157,000.

A number of other large investors also recently made changes to their positions in PRU. Atlantic Union Bankshares Corp purchased a new position in shares of Prudential Financial during the 2nd quarter worth $2,669,000. Allred Capital Management LLC lifted its stake in shares of Prudential Financial by 16.4% during the 1st quarter. Allred Capital Management LLC now owns 3,556 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 500 shares during the period. Goelzer Investment Management Inc. lifted its stake in shares of Prudential Financial by 0.9% during the 2nd quarter. Goelzer Investment Management Inc. now owns 96,523 shares of the financial services provider’s stock worth $9,749,000 after purchasing an additional 874 shares during the period. First Republic Investment Management Inc. lifted its stake in shares of Prudential Financial by 19.7% during the 1st quarter. First Republic Investment Management Inc. now owns 14,882 shares of the financial services provider’s stock worth $1,367,000 after purchasing an additional 2,447 shares during the period. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Prudential Financial during the 1st quarter worth $294,000. Hedge funds and other institutional investors own 63.65% of the company’s stock.

PRU has been the topic of a number of recent analyst reports. Zacks Investment Research raised Prudential Financial from a “sell” rating to a “hold” rating and set a $90.00 price target on the stock in a research note on Monday. ValuEngine lowered Prudential Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. B. Riley lowered Prudential Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $122.00 to $100.00 in a research report on Thursday, August 1st. Atlantic Securities lowered Prudential Financial from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Citigroup lowered Prudential Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $112.00 to $94.00 in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Prudential Financial presently has an average rating of “Hold” and an average target price of $103.59.

Shares of PRU traded up $0.17 during trading hours on Thursday, hitting $80.57. The stock had a trading volume of 78,451 shares, compared to its average volume of 2,281,292. Prudential Financial Inc has a 12-month low of $75.61 and a 12-month high of $106.64. The company has a market capitalization of $33.27 billion, a price-to-earnings ratio of 6.88, a P/E/G ratio of 0.74 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a fifty day simple moving average of $97.24.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.22 by ($0.08). Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. The company had revenue of $14.11 billion during the quarter, compared to analyst estimates of $13.63 billion. During the same quarter in the prior year, the company posted $3.01 earnings per share. As a group, sell-side analysts expect that Prudential Financial Inc will post 12.49 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be issued a $1.00 dividend. The ex-dividend date is Monday, August 19th. This represents a $4.00 annualized dividend and a yield of 4.96%. Prudential Financial’s dividend payout ratio is currently 34.22%.

Prudential Financial Company Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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