Alpine Woods Capital Investors LLC Invests $1.87 Million in Prudential Financial, Inc. $PRU

Key Points

• Alpine Woods Capital Investors LLC invested approximately $1.87 million in Prudential Financial, acquiring 17,406 shares of the company's stock.
• Insiders made significant transactions, including EVP Ann M. Kappler selling 4,000 shares, which reflects a 15.68% decrease in her ownership.
• Prudential Financial recently declared a quarterly dividend of $1.35 per share, representing a 5.3% yield and a payout ratio of 119.73%.

Alpine Woods Capital Investors LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,406 shares of the financial services provider's stock, valued at approximately $1,870,000.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Prudential Financial by 3.6% during the 1st 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 in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Prudential Financial by 3.0% during the 1st 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 in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Prudential Financial by 728.4% during the 1st 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 in the last quarter. HighTower Advisors LLC boosted its stake in shares of Prudential Financial by 68.2% during the 1st 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 in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Prudential Financial by 9.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock worth $279,000 after acquiring an additional 222 shares in the last quarter. Institutional investors own 56.83% of the company's stock.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the transaction, the executive vice president directly owned 21,506 shares of the company's stock, 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 SEC, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

Prudential Financial Trading Up 2.1%

Prudential Financial stock opened at $101.22 on Tuesday. The business has a 50 day moving average price of $105.14 and a two-hundred day moving average price of $104.34. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The stock has a market cap of $35.63 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. As a group, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.3%. Prudential Financial's dividend payout ratio is 119.73%.

Analysts Set New Price Targets

Several research firms recently weighed in on PRU. Weiss Ratings reissued a "hold (c)" rating on shares of Prudential Financial in a research report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 16th. Wolfe Research began coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a "peer perform" rating for the company. Barclays cut their price objective on Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Prudential Financial has a consensus rating of "Hold" and an average target price of $122.27.

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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