Generali Asset Management SPA SGR Buys 7,402 Shares of Prudential Financial, Inc. $PRU

Key Points

• Generali Asset Management SPA SGR increased its stake in Prudential Financial by 36.3% during Q2, now owning 27,798 shares worth approximately $2.99 million.
• Recent institutional investment activity shows firms like Brighton Jones LLC and GAMMA Investing LLC have also increased their holdings in Prudential Financial, with over 56.83% of the stock now owned by institutional investors.
• Prudential Financial has declared a quarterly dividend of $1.35, translating to an annual yield of 5.4%, though the company has a high dividend payout ratio of 119.73%.

Generali Asset Management SPA SGR increased its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 36.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,798 shares of the financial services provider's stock after purchasing an additional 7,402 shares during the quarter. Generali Asset Management SPA SGR's holdings in Prudential Financial were worth $2,987,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PRU. Brighton Jones LLC raised its holdings in Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock worth $436,000 after purchasing an additional 133 shares during the period. GAMMA Investing LLC raised its holdings in Prudential Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider's stock worth $868,000 after purchasing an additional 145 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Prudential Financial by 3.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 79,888 shares of the financial services provider's stock valued at $8,922,000 after acquiring an additional 2,623 shares during the period. Exchange Traded Concepts LLC raised its holdings in Prudential Financial by 9.7% during the first quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 222 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Prudential Financial by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 161,113 shares of the financial services provider's stock valued at $17,993,000 after acquiring an additional 640 shares during the period. 56.83% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research firms have commented on PRU. Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company decreased their price target on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. Wolfe Research began coverage on Prudential Financial in a report on Tuesday, September 16th. They set a "peer perform" rating on the stock. JPMorgan Chase & Co. raised their price target on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Barclays decreased their price target on Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $122.27.

Prudential Financial Trading Down 3.2%

PRU opened at $99.78 on Friday. The firm has a market cap of $35.12 billion, a P/E ratio of 22.12, a P/E/G ratio of 0.91 and a beta of 1.04. 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 50-day moving average of $105.11 and a 200 day moving average of $104.24.

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

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were given a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.4%. Prudential Financial's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.