Duncan Williams Asset Management LLC Makes New Investment in Prudential Financial, Inc. $PRU

Duncan Williams Asset Management LLC acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,360 shares of the financial services provider’s stock, valued at approximately $898,000.

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

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the transaction, the executive vice president owned 21,506 shares of the company’s stock, 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 can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Stock Up 2.0%

NYSE PRU opened at $104.01 on Monday. The business’s 50-day moving average is $105.19 and its 200 day moving average is $104.79. The stock has a market capitalization of $36.61 billion, a PE ratio of 23.06, a PEG 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. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55.

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

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were given a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.2%. Prudential Financial’s dividend payout ratio is 119.73%.

Wall Street Analyst Weigh In

PRU has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Wolfe Research assumed coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Piper Sandler cut 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 note on Wednesday, July 16th. Morgan Stanley lifted their target price on shares of Prudential Financial from $113.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, August 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average target price 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.