Prudential Financial, Inc. $PRU Shares Acquired by Courier Capital LLC

Courier Capital LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,674 shares of the financial services provider’s stock after buying an additional 460 shares during the period. Courier Capital LLC’s holdings in Prudential Financial were worth $2,758,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Invesco Ltd. raised its holdings in shares of Prudential Financial by 2.7% in the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock worth $495,859,000 after buying an additional 116,079 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Prudential Financial by 19.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock worth $469,777,000 after buying an additional 678,028 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Prudential Financial by 5.6% in the first quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider’s stock worth $201,201,000 after buying an additional 95,021 shares during the last quarter. Amundi raised its holdings in shares of Prudential Financial by 14.1% in the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock worth $183,571,000 after buying an additional 216,119 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Prudential Financial by 2.3% in the first quarter. Deutsche Bank AG now owns 1,284,466 shares of the financial services provider’s stock worth $143,449,000 after buying an additional 29,025 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 2.1%

Shares of NYSE PRU opened at $101.22 on Tuesday. The company’s 50-day simple moving average is $105.14 and its 200-day simple moving average is $104.34. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The firm has a market cap of $35.63 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business had revenue of $8.35 billion for the quarter. Equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS 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 5.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 119.73%.

Analyst Ratings Changes

PRU has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Barclays cut their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Morgan Stanley increased their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Piper Sandler cut their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $122.27.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the firm’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 transaction, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial 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.