MCF Advisors LLC Has $147,000 Stock Position in Prudential Financial, Inc. (NYSE:PRU)

MCF Advisors LLC grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 246.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,431 shares of the financial services provider’s stock after buying an additional 1,018 shares during the quarter. MCF Advisors LLC’s holdings in Prudential Financial were worth $147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Founders Capital Management grew its holdings in shares of Prudential Financial by 20.0% during the first quarter. Founders Capital Management now owns 600 shares of the financial services provider’s stock valued at $55,000 after buying an additional 100 shares during the last quarter. Sandy Spring Bank grew its holdings in shares of Prudential Financial by 29.9% during the second quarter. Sandy Spring Bank now owns 435 shares of the financial services provider’s stock valued at $45,000 after buying an additional 100 shares during the last quarter. Stephenson National Bank & Trust grew its holdings in shares of Prudential Financial by 76.4% during the second quarter. Stephenson National Bank & Trust now owns 254 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the last quarter. Boston Private Wealth LLC grew its holdings in shares of Prudential Financial by 2.2% during the first quarter. Boston Private Wealth LLC now owns 5,292 shares of the financial services provider’s stock valued at $482,000 after buying an additional 114 shares during the last quarter. Finally, Rockbridge Investment Management LCC lifted its position in shares of Prudential Financial by 65.1% during the second quarter. Rockbridge Investment Management LCC now owns 289 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 56.14% of the company’s stock.

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “sector perform” rating in a research report on Thursday, August 5th. They noted that the move was a valuation call. raised their price target on shares of Prudential Financial from $97.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, June 21st. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Friday, June 18th. Finally, Morgan Stanley lowered their price objective on shares of Prudential Financial from $107.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 4th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $100.33.

In related news, SVP Timothy L. Schmidt sold 6,579 shares of the business’s stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $104.91, for a total transaction of $690,202.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by insiders.

NYSE PRU opened at $103.72 on Wednesday. The company’s 50 day moving average is $103.11 and its 200-day moving average is $100.69. Prudential Financial, Inc. has a 12-month low of $60.16 and a 12-month high of $109.17. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.31. The firm has a market cap of $40.04 billion, a P/E ratio of 5.73, a price-to-earnings-growth ratio of 0.65 and a beta of 1.70.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, August 3rd. The financial services provider reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.75. Prudential Financial had a net margin of 13.09% and a return on equity of 8.87%. The company had revenue of $13.10 billion for the quarter, compared to analyst estimates of $13.83 billion. Equities analysts expect that Prudential Financial, Inc. will post 13.54 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 16th. Investors of record on Tuesday, August 24th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, August 23rd. This represents a $4.60 annualized dividend and a yield of 4.44%. Prudential Financial’s dividend payout ratio is currently 45.05%.

About Prudential Financial

Prudential Financial, Inc engages in the provision of financial products and services including life insurance, annuities, mutual funds, and investment management to both individual and institutional customers. It operates through the following segments: PGIM, International Businesses, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, Closed Block, and Corporate and Others.

See Also: Why Invest in High-Yield Dividend Stocks?

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU).

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.