Valeo Financial Advisors LLC Raises Stock Position in Prudential Financial, Inc. $PRU

Valeo Financial Advisors LLC lifted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 65.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,642 shares of the financial services provider's stock after buying an additional 3,403 shares during the period. Valeo Financial Advisors LLC's holdings in Prudential Financial were worth $929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock worth $26,000 after buying an additional 111 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in shares of Prudential Financial during the first quarter worth about $26,000. North Capital Inc. purchased a new stake in shares of Prudential Financial during the first quarter worth about $28,000. AlphaQuest LLC grew its position in Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock worth $28,000 after purchasing an additional 245 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in Prudential Financial during the 1st quarter worth approximately $30,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the 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 transaction, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company an "equal weight" rating in a report on Tuesday. Wolfe Research started coverage on Prudential Financial in a research note on Tuesday, September 16th. They set a "peer perform" rating on the stock. Barclays boosted their price target on Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Wells Fargo & Company dropped their target price 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. Finally, JPMorgan Chase & Co. upped their target price on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Prudential Financial presently has an average rating of "Hold" and an average price target of $122.17.

Prudential Financial Trading Up 0.4%

Prudential Financial stock opened at $103.68 on Wednesday. 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 12 month low of $90.38 and a 12 month high of $130.55. The stock's 50 day simple moving average is $105.18 and its two-hundred day simple moving average is $104.74. The firm has a market cap of $36.49 billion, a PE ratio of 22.99, a P/E/G ratio of 0.91 and a beta of 1.04.

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

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend 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 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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