Gradient Investments LLC Acquires 122,012 Shares of Prudential Financial, Inc. $PRU

Gradient Investments LLC increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 697.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,500 shares of the financial services provider’s stock after purchasing an additional 122,012 shares during the period. Gradient Investments LLC’s holdings in Prudential Financial were worth $14,472,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Prudential Financial by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock worth $4,566,432,000 after buying an additional 600,482 shares in the last quarter. Geode Capital Management LLC grew its position in Prudential Financial by 1.8% in the second quarter. Geode Capital Management LLC now owns 9,402,393 shares of the financial services provider’s stock valued at $1,010,474,000 after acquiring an additional 163,874 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Prudential Financial by 1.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,408,942 shares of the financial services provider’s stock worth $258,817,000 after acquiring an additional 31,088 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Prudential Financial by 5.6% during the first quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider’s stock valued at $201,201,000 after acquiring an additional 95,021 shares during the period. Finally, Amundi boosted its stake in shares of Prudential Financial by 14.1% in the 1st quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after purchasing an additional 216,119 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Prudential Financial 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 sale, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Timothy L. Schmidt sold 8,000 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total value of $861,520.00. Following the completion of the transaction, the senior vice president owned 11,535 shares in the company, valued at $1,242,204.15. This represents a 40.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,719 shares of company stock valued at $6,796,067 over the last ninety days. Insiders own 0.25% of the company’s stock.

Prudential Financial Stock Down 0.5%

Shares of PRU opened at $117.06 on Wednesday. The business’s fifty day moving average price is $106.22 and its two-hundred day moving average price is $105.57. The firm has a market capitalization of $40.97 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 0.96 and a beta of 0.97. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $123.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The business had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. On average, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.6%. Prudential Financial’s payout ratio is currently 74.18%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PRU shares. Barclays cut their price target on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Wolfe Research started coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. Mizuho assumed coverage on Prudential Financial in a research report on Tuesday. They set a “neutral” rating and a $125.00 price target on the stock. Evercore ISI lifted their price objective on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley increased their target price on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Eleven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $116.80.

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 Life, and International Businesses segments.