8,360 Shares in Prudential Financial, Inc. $PRU Bought by Kickstand Ventures LLC.

Key Points

• Kickstand Ventures LLC acquired 8,360 shares of Prudential Financial, valued at approximately $898,000, during the second quarter.
• Prudential Financial's quarterly earnings beat estimates with an EPS of $3.58, while the company announced a dividend of $1.35 per share, yielding 5.2% annually.
• Analysts' ratings for Prudential Financial vary, with one Buy rating, eleven Holds, and one Sell; its current consensus target price is $122.08.

Kickstand Ventures LLC. acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,360 shares of the financial services provider's stock, valued at approximately $898,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Prudential Financial by 3.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider's stock worth $2,320,000 after acquiring an additional 721 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Prudential Financial by 3.0% during the first quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider's stock worth $12,217,000 after acquiring an additional 3,183 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Prudential Financial by 728.4% during the first quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock worth $94,000 after acquiring an additional 743 shares during the period. HighTower Advisors LLC raised its holdings in shares of Prudential Financial by 68.2% during the first quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider's stock worth $12,373,000 after acquiring an additional 44,937 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in Prudential Financial by 9.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock valued at $279,000 after buying an additional 222 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Ann M. Kappler sold 4,000 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

PRU has been the topic of several recent research reports. Wolfe Research initiated coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a "peer perform" rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company lowered their price target on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 16th. Finally, Barclays lifted their price target on shares of Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of "Hold" and a consensus target price of $122.08.

Prudential Financial Stock Performance

Shares of PRU opened at $104.01 on Friday. The firm has a 50-day moving average of $105.19 and a 200-day moving average of $104.84. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a market cap of $36.61 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 0.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

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

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. Prudential Financial's payout ratio is presently 119.73%.

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.

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