Brookwood Investment Group LLC Takes Position in Prudential Financial, Inc. $PRU

Brookwood Investment Group LLC purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,687 shares of the financial services provider’s stock, valued at approximately $289,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in shares of Prudential Financial by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 815,841 shares of the financial services provider’s stock valued at $87,654,000 after acquiring an additional 18,901 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Prudential Financial by 0.9% during the second quarter. Nisa Investment Advisors LLC now owns 140,857 shares of the financial services provider’s stock valued at $15,134,000 after acquiring an additional 1,204 shares in the last quarter. New Hampshire Trust raised its stake in Prudential Financial by 5.3% in the second quarter. New Hampshire Trust now owns 4,261 shares of the financial services provider’s stock worth $458,000 after buying an additional 216 shares in the last quarter. CVA Family Office LLC raised its stake in Prudential Financial by 11.0% in the second quarter. CVA Family Office LLC now owns 1,300 shares of the financial services provider’s stock worth $140,000 after buying an additional 129 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs raised its stake in Prudential Financial by 5.4% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 14,694 shares of the financial services provider’s stock worth $1,579,000 after buying an additional 747 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. boosted 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. Morgan Stanley boosted 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. Finally, Barclays reduced their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $122.27.

Prudential Financial Price Performance

NYSE PRU opened at $101.41 on Wednesday. The firm’s fifty day simple moving average is $104.49 and its two-hundred day simple moving average is $104.27. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The firm has a market capitalization of $35.69 billion, a P/E ratio of 22.48, a P/E/G ratio of 0.89 and a beta of 1.04.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The business had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. Analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.3%. Prudential Financial’s payout ratio is 119.73%.

Insider Buying and Selling at Prudential Financial

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

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.