Cantor Fitzgerald Investment Advisors L.P. Boosts Position in Prudential Financial, Inc. $PRU

Key Points

• Cantor Fitzgerald Investment Advisors L.P. increased its holdings in Prudential Financial by 11.0% during the second quarter, now owning 114,554 shares valued at approximately $12.3 million.
• Prudential Financial recently reported earnings of $3.58 EPS for the last quarter, surpassing analysts' expectations of $3.22, despite a 2.5% year-over-year decline in revenue.
• The company declared a quarterly dividend of $1.35 per share, reflecting an annualized dividend yield of 5.2% amid a dividend payout ratio of 119.73%.

Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 11.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,554 shares of the financial services provider's stock after acquiring an additional 11,361 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Prudential Financial were worth $12,308,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock valued at $436,000 after purchasing an additional 133 shares in the last quarter. NBC Securities Inc. lifted its holdings in Prudential Financial by 116,300.0% in the first quarter. NBC Securities Inc. now owns 2,328 shares of the financial services provider's stock worth $260,000 after buying an additional 2,326 shares during the period. Merit Financial Group LLC boosted its position in Prudential Financial by 59.4% during the 1st quarter. Merit Financial Group LLC now owns 10,566 shares of the financial services provider's stock valued at $1,180,000 after acquiring an additional 3,939 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in shares of Prudential Financial by 2,210.6% during the 1st quarter. Whipplewood Advisors LLC now owns 1,086 shares of the financial services provider's stock worth $121,000 after acquiring an additional 1,039 shares during the period. Finally, Apella Capital LLC bought a new position in shares of Prudential Financial in the 1st quarter worth approximately $208,000. Institutional investors own 56.83% of the company's stock.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated 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 sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler dropped their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Wells Fargo & Company dropped their target price on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. Morgan Stanley increased their price target on shares of Prudential Financial from $113.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, Barclays upped their price objective on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $122.08.

Prudential Financial Stock Performance

Shares of PRU stock opened at $103.08 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $36.28 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 0.92 and a beta of 1.04. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company's 50-day moving average is $105.26 and its 200 day moving average is $104.97.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $13.50 billion for the quarter, compared to analysts' expectations of $13.47 billion. During the same quarter in the prior year, the company posted $3.39 earnings per share. The business's revenue for the quarter was down 2.5% on a year-over-year basis. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

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

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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