SFE Investment Counsel Invests $9.75 Million in Prudential Financial, Inc. $PRU

Key Points

• SFE Investment Counsel acquired a new $9.75 million stake in Prudential Financial during the second quarter, purchasing 90,299 shares. Institutional investors collectively own 56.83% of the company.
• Analysts remain cautious, with a consensus rating of “Reduce” and an average price target of $107.62, below the stock’s reported $125.05 opening price.
• Prudential exceeded quarterly earnings expectations, reporting $4.08 in EPS versus the $3.52 consensus estimate, and announced a $1.40 quarterly dividend, equivalent to a 4.5% annualized yield.

SFE Investment Counsel acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 90,299 shares of the financial services provider's stock, valued at approximately $9,746,000. Prudential Financial comprises about 1.3% of SFE Investment Counsel's holdings, making the stock its 27th largest holding.

Several other institutional investors also recently made changes to their positions in the stock. Rossby Financial LCC grew its stake in Prudential Financial by 32.4% during the 4th quarter. Rossby Financial LCC now owns 421 shares of the financial services provider's stock worth $48,000 after buying an additional 103 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Prudential Financial by 5.6% during the fourth quarter. TD Private Client Wealth LLC now owns 1,972 shares of the financial services provider's stock worth $223,000 after acquiring an additional 104 shares during the last quarter. Western Wealth Management LLC lifted its position in Prudential Financial by 1.7% in the 4th quarter. Western Wealth Management LLC now owns 6,215 shares of the financial services provider's stock valued at $702,000 after purchasing an additional 105 shares during the last quarter. Apella Capital LLC increased its stake in shares of Prudential Financial by 3.7% in the first quarter. Apella Capital LLC now owns 2,979 shares of the financial services provider's stock valued at $303,000 after purchasing an additional 106 shares during the period. Finally, Nations Financial Group Inc. IA ADV boosted its position in shares of Prudential Financial by 3.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 3,238 shares of the financial services provider's stock worth $366,000 after buying an additional 112 shares during the period. 56.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research upgraded Prudential Financial from a "strong sell" rating to a "hold" rating in a research report on Friday, June 12th. Wells Fargo & Company increased their target price on shares of Prudential Financial from $100.00 to $103.00 and gave the company an "underweight" rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods boosted their price target on shares of Prudential Financial from $113.00 to $123.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 11th. BMO Capital Markets reduced their price target on shares of Prudential Financial from $91.00 to $87.00 and set an "underperform" rating for the company in a research note on Thursday, April 23rd. Finally, Barclays increased their price objective on shares of Prudential Financial from $90.00 to $92.00 and gave the company an "underweight" rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $107.62.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of Prudential Financial stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the sale, the insider owned 7,973,657 shares of the company's stock, valued at $197,348,010.75. This trade represents a 2.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.05% of the stock is owned by company insiders.

Prudential Financial Trading Up 0.2%

Shares of NYSE PRU opened at $125.05 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $127.72. The business has a 50-day moving average price of $114.94 and a two-hundred day moving average price of $105.23. The firm has a market capitalization of $43.14 billion, a PE ratio of 11.33, a PEG ratio of 2.38 and a beta of 0.84.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.52 by $0.56. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter in the prior year, the company earned $3.58 EPS. As a group, analysts predict that Prudential Financial, Inc. will post 14.17 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given a $1.40 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a yield of 4.5%. Prudential Financial's dividend payout ratio is presently 50.72%.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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