Brookstone Capital Management Acquires 3,292 Shares of Prudential Financial, Inc. $PRU

Brookstone Capital Management increased its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,162 shares of the financial services provider's stock after purchasing an additional 3,292 shares during the quarter. Brookstone Capital Management's holdings in Prudential Financial were worth $11,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PRU. Nuveen LLC purchased a new position in shares of Prudential Financial in the 1st quarter valued at approximately $90,010,000. Goldman Sachs Group Inc. lifted its position in Prudential Financial by 19.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock valued at $469,777,000 after buying an additional 678,028 shares during the period. Nordea Investment Management AB lifted its position in Prudential Financial by 49.2% during the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider's stock valued at $184,192,000 after buying an additional 567,571 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Prudential Financial during the second quarter valued at $28,579,000. Finally, Amundi lifted its position in Prudential Financial by 14.1% during the first quarter. Amundi now owns 1,751,633 shares of the financial services provider's stock valued at $183,571,000 after buying an additional 216,119 shares during the period. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PRU. Barclays lowered 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. JPMorgan Chase & Co. lifted their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Wells Fargo & Company lowered 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 report on Wednesday, July 16th. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley lifted their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company an "equal weight" rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $122.27.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $102.05 on Thursday. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The firm has a market cap of $35.92 billion, a P/E ratio of 22.63, a PEG ratio of 0.90 and a beta of 1.04. The company has a 50 day moving average of $104.86 and a 200 day moving average of $104.11. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

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

Prudential Financial Announces Dividend

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

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company's stock.

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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