TFG Advisers LLC Boosts Stock Position in Prudential Financial, Inc. $PRU

TFG Advisers LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.2% in the second quarter, HoldingsChannel reports. The firm owned 17,485 shares of the financial services provider’s stock after buying an additional 540 shares during the period. TFG Advisers LLC’s holdings in Prudential Financial were worth $1,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of PRU. Brighton Jones LLC grew its holdings in Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 133 shares during the period. NBC Securities Inc. boosted its position in Prudential Financial by 116,300.0% in the 1st quarter. NBC Securities Inc. now owns 2,328 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 2,326 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Prudential Financial by 59.4% during the 1st quarter. Merit Financial Group LLC now owns 10,566 shares of the financial services provider’s stock valued at $1,180,000 after purchasing an additional 3,939 shares in the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Prudential Financial by 2,210.6% in the 1st quarter. Whipplewood Advisors LLC now owns 1,086 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 1,039 shares during the period. Finally, Apella Capital LLC purchased a new stake in Prudential Financial during the first quarter worth $208,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

PRU stock opened at $103.08 on Thursday. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The firm has a market capitalization of $36.28 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 0.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The business has a 50 day simple moving average of $105.26 and a 200-day simple moving average of $104.97.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. The business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company earned $3.39 EPS. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were paid a $1.35 dividend. 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 119.73%.

Insider Activity

In related news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRU. Piper Sandler decreased their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. JPMorgan Chase & Co. upped their price target on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Barclays raised their price objective on Prudential Financial from $119.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Wolfe Research assumed coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Finally, Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $122.08.

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.