Duncan Williams Asset Management LLC Purchases New Holdings in Prudential Financial, Inc. $PRU

Key Points

• Duncan Williams Asset Management LLC has acquired a new stake in Prudential Financial, purchasing 8,360 shares valued at approximately $898,000 during the second quarter.
• Institutional investors own 56.83% of Prudential Financial's stock, indicating strong interest and confidence in the company among large financial entities.
• Prudential Financial announced a quarterly dividend of $1.35 per share, representing an annualized rate of $5.40 and a yield of 5.2%, though its dividend payout ratio is currently 119.73%.

Duncan Williams Asset Management LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,360 shares of the financial services provider's stock, valued at approximately $898,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its position 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 valued at $436,000 after buying an additional 133 shares in the last quarter. NBC Securities Inc. boosted its position in shares of 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 purchasing an additional 2,326 shares during the period. Merit Financial Group LLC boosted its position in shares of Prudential Financial by 59.4% during the first quarter. Merit Financial Group LLC now owns 10,566 shares of the financial services provider's stock worth $1,180,000 after acquiring an additional 3,939 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Prudential Financial by 5.1% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 5,334 shares of the financial services provider's stock valued at $596,000 after purchasing an additional 258 shares in the last quarter. Finally, KMG Fiduciary Partners LLC lifted its stake in shares of Prudential Financial by 6.3% during the 1st quarter. KMG Fiduciary Partners LLC now owns 37,883 shares of the financial services provider's stock worth $4,231,000 after acquiring an additional 2,252 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their price target on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Wolfe Research started coverage on Prudential Financial in a report on Tuesday, September 16th. They set a "peer perform" rating for the company. Piper Sandler reduced their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Weiss Ratings restated a "hold (c)" rating on shares of Prudential Financial in a research note on Saturday, September 27th. Finally, Barclays lifted their price objective on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $122.08.

Prudential Financial Trading Up 2.0%

Shares of NYSE PRU opened at $104.01 on Monday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The business has a 50-day moving average price of $105.19 and a two-hundred day moving average price of $104.79. The firm has a market capitalization of $36.61 billion, a PE ratio of 23.06, a PEG ratio of 0.92 and a beta of 1.04.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.36. The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business's revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.39 EPS. As a group, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were given 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 5.2%. Prudential Financial's dividend payout ratio is presently 119.73%.

Insider Transactions at Prudential Financial

In related 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company's stock.

Prudential Financial Company 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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