Bogart Wealth LLC Boosts Stake in Prudential Financial, Inc. (NYSE:PRU)

Bogart Wealth LLC grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 67.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,429 shares of the financial services provider's stock after purchasing an additional 40,613 shares during the period. Bogart Wealth LLC's holdings in Prudential Financial were worth $11,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PRU. North Capital Inc. acquired a new position in shares of Prudential Financial during the first quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Prudential Financial during the first quarter valued at about $30,000. Lee Danner & Bass Inc. acquired a new position in shares of Prudential Financial during the fourth quarter valued at about $35,000. TCTC Holdings LLC acquired a new position in shares of Prudential Financial during the fourth quarter valued at about $37,000. Finally, Park Place Capital Corp raised its holdings in shares of Prudential Financial by 1,841.2% during the first quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 313 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded up $0.90 on Thursday, reaching $103.10. 1,301,496 shares of the company traded hands, compared to its average volume of 1,664,424. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a 50 day moving average of $105.32 and a 200 day moving average of $108.50. The firm has a market capitalization of $36.50 billion, a PE ratio of 16.34, a PEG ratio of 0.97 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same period in the prior year, the firm earned $3.12 EPS. The company's revenue was down 38.2% compared to the same quarter last year. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's dividend payout ratio is currently 85.58%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the purchase, the insider owned 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRU. Morgan Stanley decreased their target price on shares of Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating for the company in a research report on Monday. Barclays boosted their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a research report on Wednesday. Wall Street Zen downgraded shares of Prudential Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Finally, UBS Group decreased their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial currently has a consensus rating of "Hold" and an average price target of $121.62.

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.