Richards Merrill & Peterson Inc. Grows Stake in Prudential Financial, Inc. $PRU

Richards Merrill & Peterson Inc. raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,080 shares of the financial services provider’s stock after purchasing an additional 232 shares during the period. Richards Merrill & Peterson Inc.’s holdings in Prudential Financial were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after buying an additional 133 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Prudential Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider’s stock valued at $868,000 after acquiring an additional 145 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Prudential Financial by 1,652.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,787 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 1,685 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in Prudential Financial by 666.2% during the 1st quarter. Perigon Wealth Management LLC now owns 41,797 shares of the financial services provider’s stock valued at $4,668,000 after purchasing an additional 36,342 shares during the last quarter. Finally, Tepp RIA LLC purchased a new stake in Prudential Financial in the 1st quarter worth about $345,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.5%

Prudential Financial stock opened at $102.23 on Friday. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The business has a fifty day moving average of $104.68 and a two-hundred day moving average of $104.20. The firm has a market cap of $35.99 billion, a P/E ratio of 22.67, a P/E/G ratio of 0.90 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 issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. On average, analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a 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%.

Wall Street Analyst Weigh In

PRU has been the topic of several recent analyst reports. Morgan Stanley increased their price target on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Wells Fargo & Company cut their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. Wolfe Research initiated coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Finally, Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $122.27.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were 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. 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 accessible through the SEC website. Insiders own 0.25% of the company’s stock.

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.