Disciplined Equity Management Inc. Buys 3,258 Shares of Prudential Financial, Inc. $PRU

Key Points

• Disciplined Equity Management Inc. increased its stake in Prudential Financial by 19.8% during the second quarter, acquiring an additional 3,258 shares, which now represents 1.2% of its overall holdings.
• Several analysts have recently adjusted their price targets for Prudential Financial, with JPMorgan Chase raising it from $126.00 to $136.00, while Wells Fargo reduced it to $113.00.
• Prudential Financial has declared a quarterly dividend of $1.35 per share, yielding approximately 5.2%, despite a payout ratio of 119.73%.

Disciplined Equity Management Inc. increased its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 19.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,678 shares of the financial services provider's stock after acquiring an additional 3,258 shares during the period. Prudential Financial comprises about 1.2% of Disciplined Equity Management Inc.'s holdings, making the stock its 11th largest holding. Disciplined Equity Management Inc.'s holdings in Prudential Financial were worth $2,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of PRU. Proffitt & Goodson Inc. increased its stake in shares of Prudential Financial by 12.7% in the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider's stock worth $94,000 after buying an additional 98 shares during the period. SPC Financial Inc. grew its holdings in Prudential Financial by 2.6% in the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider's stock worth $444,000 after acquiring an additional 100 shares during the last quarter. Thrive Wealth Management LLC increased its position in shares of Prudential Financial by 2.6% in the second quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider's stock valued at $430,000 after acquiring an additional 101 shares during the period. Eagle Capital Management LLC raised its stake in shares of Prudential Financial by 0.3% during the second quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider's stock valued at $3,847,000 after acquiring an additional 108 shares during the last quarter. Finally, Principle Wealth Partners LLC boosted its holdings in shares of Prudential Financial by 0.3% during the first quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider's stock worth $4,723,000 after purchasing an additional 109 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on PRU shares. Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their target price on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Piper Sandler dropped their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Barclays reduced their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company dropped 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, July 16th. One investment 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. According to data from MarketBeat.com, Prudential Financial presently has an average rating of "Hold" and an average price target of $122.27.

Insider Buying and Selling at Prudential Financial

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 stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares of the company's stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $103.68 on Wednesday. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The firm has a market capitalization of $36.50 billion, a P/E ratio of 22.99, a P/E/G ratio of 0.90 and a beta of 1.04. 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 business has a fifty day simple moving average of $105.15 and a two-hundred day simple moving average of $104.33.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) 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. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were given a $1.35 dividend. 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 payout ratio is currently 119.73%.

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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