Vise Technologies Inc. Grows Position in Prudential Financial, Inc. $PRU

Key Points

• Vise Technologies increased its Prudential Financial stake by 165.8% in the second quarter, ending with 31,991 shares valued at approximately $3.45 million. Institutional investors collectively own 56.83% of PRU.
• Prudential reported quarterly earnings of $4.08 per share, beating analysts’ $3.52 estimate, while revenue of $14.15 billion fell short of expectations. The company declared a quarterly dividend of $1.40 per share, representing a 4.6% annualized yield.
• Despite PRU trading near $121.21, above the analyst consensus target of $108.31, Wall Street’s overall rating remains “Reduce,” with one Buy, eleven Hold, and five Sell ratings.

Vise Technologies Inc. grew its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 165.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,991 shares of the financial services provider's stock after buying an additional 19,956 shares during the period. Vise Technologies Inc.'s holdings in Prudential Financial were worth $3,453,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Jessup Wealth Management Inc purchased a new stake in shares of Prudential Financial in the 4th quarter valued at $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in Prudential Financial in the fourth quarter valued at $26,000. Salomon & Ludwin LLC grew its position in Prudential Financial by 98.3% during the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider's stock worth $27,000 after purchasing an additional 114 shares during the period. Basepoint Wealth LLC purchased a new position in shares of Prudential Financial during the 4th quarter valued at about $30,000. Finally, Coston McIsaac & Partners lifted its holdings in shares of Prudential Financial by 93.4% in the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider's stock valued at $29,000 after buying an additional 128 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 7,652 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares of the company's stock, valued at $1,801,019.07. The trade was a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the transaction, the insider owned 7,973,657 shares of the company's stock, valued at approximately $197,348,010.75. This trade represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.05% of the company's stock.

Prudential Financial Stock Up 0.5%

Shares of PRU opened at $121.21 on Friday. The firm has a market cap of $41.82 billion, a P/E ratio of 10.98, a PEG ratio of 2.28 and a beta of 0.84. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $127.72. The stock's 50 day moving average is $116.66 and its two-hundred day moving average is $105.71. 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 (NYSE:PRU - Get Free Report) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. During the same period in the prior year, the company posted $3.58 EPS. Analysts predict that Prudential Financial, Inc. will post 14.24 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial's dividend payout ratio (DPR) is presently 50.72%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PRU shares. TD Cowen raised their target price on Prudential Financial from $102.00 to $114.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Mizuho upped their price objective on Prudential Financial from $101.00 to $109.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods raised their price objective on shares of Prudential Financial from $113.00 to $123.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 11th. Jefferies Financial Group lifted their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the company a "hold" rating in a report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Prudential Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. One 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. According to data from MarketBeat.com, Prudential Financial has a consensus rating of "Reduce" and a consensus target price of $108.31.

Prudential Financial Company 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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