2,409 Shares in Prudential Financial, Inc. $PRU Acquired by Certior Financial Group LLC

Key Points

• Certior Financial Group LLC acquired 2,409 shares of Prudential Financial, valued at approximately $269,000, indicating increased institutional interest in the company.
• Prudential's recent quarterly earnings report showed EPS of $3.58, exceeding estimates, while revenue was reported at $13.50 billion, slightly above forecasts but down 2.5% from last year.
• The company announced a quarterly dividend of $1.35 per share, with a declared dividend yield of 4.9% and a payout ratio of 119.73%.

Certior Financial Group LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,409 shares of the financial services provider's stock, valued at approximately $269,000.

A number of other institutional investors have also modified their holdings of the company. SPC Financial Inc. grew its stake in shares of Prudential Financial by 2.6% in the first quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider's stock valued at $444,000 after buying an additional 100 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Prudential Financial by 3.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider's stock valued at $306,000 after buying an additional 101 shares in the last quarter. Principle Wealth Partners LLC grew its stake in shares of Prudential Financial by 0.3% in the first quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider's stock valued at $4,723,000 after buying an additional 109 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after buying an additional 111 shares in the last quarter. Finally, Northcape Wealth Management LLC grew its stake in shares of Prudential Financial by 5.8% in the first quarter. Northcape Wealth Management LLC now owns 2,106 shares of the financial services provider's stock valued at $235,000 after buying an additional 115 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Piper Sandler lowered their target price 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. Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. boosted their target price on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, Barclays boosted their target price on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Prudential Financial currently has an average rating of "Hold" and an average target price of $122.08.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the transaction, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. The trade was a 112.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company's stock.

Prudential Financial Trading Up 1.0%

NYSE:PRU opened at $109.78 on Friday. The stock has a 50-day simple moving average of $105.73 and a 200-day simple moving average of $105.82. The stock has a market cap of $38.64 billion, a P/E ratio of 24.34, a P/E/G ratio of 0.97 and a beta of 1.07. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. The business had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The business's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.39 EPS. As a group, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, August 19th. Prudential Financial's dividend payout ratio is currently 119.73%.

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.

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