Callan Family Office LLC Increases Stake in Prudential Financial, Inc. $PRU

Key Points

• Callan Family Office LLC increased its stake in Prudential Financial, Inc. by 221.0%, acquiring a total of 13,917 shares valued at $1,495,000 by the end of the recent quarter.
• Research analysts have mixed opinions on Prudential Financial, with a consensus rating of "Hold" and a price target averaging $122.27.
• The firm recently declared a quarterly dividend of $1.35 per share, representing an annualized yield of 5.5%, despite a payout ratio of 119.73%.

Callan Family Office LLC increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 221.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,917 shares of the financial services provider's stock after buying an additional 9,582 shares during the period. Callan Family Office LLC's holdings in Prudential Financial were worth $1,495,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PRU. Brighton Jones LLC increased its stake in Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock worth $436,000 after buying an additional 133 shares during the period. GAMMA Investing LLC grew its holdings in Prudential Financial by 1.9% during the 1st quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider's stock worth $868,000 after acquiring an additional 145 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in Prudential Financial by 3.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider's stock worth $306,000 after acquiring an additional 101 shares in the last quarter. Goldstone Financial Group LLC grew its holdings in Prudential Financial by 7.9% during the 1st quarter. Goldstone Financial Group LLC now owns 4,049 shares of the financial services provider's stock worth $452,000 after acquiring an additional 295 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Prudential Financial by 3.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 79,888 shares of the financial services provider's stock worth $8,922,000 after acquiring an additional 2,623 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PRU shares. Wells Fargo & Company lowered their price target 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Prudential Financial in a report on Wednesday. Morgan Stanley boosted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. Piper Sandler lowered their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of "Hold" and an average price target of $122.27.

Prudential Financial Trading Down 3.4%

Shares of Prudential Financial stock opened at $99.08 on Friday. The company has a fifty day simple moving average of $105.15 and a 200-day simple moving average of $104.47. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The stock has a market cap of $34.88 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 0.88 and a beta of 1.04.

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

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.5%. Prudential Financial's dividend payout ratio is currently 119.73%.

Insiders Place Their Bets

In related news, EVP Ann M. Kappler sold 4,000 shares of the 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 owned 21,506 shares in the company, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Prudential Financial 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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