AlTi Global Inc. Acquires 239 Shares of Prudential Financial, Inc. $PRU

AlTi Global Inc. raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 11.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,315 shares of the financial services provider’s stock after buying an additional 239 shares during the quarter. AlTi Global Inc.’s holdings in Prudential Financial were worth $249,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PRU. Brighton Jones LLC grew its position in shares of Prudential Financial by 3.7% in the 4th 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 grew its position in shares of Prudential Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider’s stock worth $868,000 after buying an additional 145 shares during the last quarter. Golden State Wealth Management LLC boosted its position in shares of Prudential Financial by 1,652.0% during the first quarter. Golden State Wealth Management LLC now owns 1,787 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 1,685 shares in the last quarter. Park Place Capital Corp boosted its position in shares of Prudential Financial by 1,841.2% during the first quarter. Park Place Capital Corp now owns 330 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 313 shares in the last quarter. Finally, Trust Co. of Vermont boosted its position in shares of Prudential Financial by 8.0% during the first quarter. Trust Co. of Vermont now owns 1,603 shares of the financial services provider’s stock valued at $179,000 after purchasing an additional 119 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

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 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 in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Stock Up 0.5%

Shares of NYSE:PRU opened at $102.23 on Friday. The stock has a fifty day simple moving average of $104.68 and a two-hundred day simple moving average of $104.27. The stock has a market capitalization of $35.99 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 0.90 and a beta of 1.04. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. 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 (NYSE:PRU) last announced its quarterly earnings data 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 during the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. On average, 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. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.3%. Prudential Financial’s payout ratio is currently 119.73%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PRU shares. Wells Fargo & Company dropped their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 16th. Wolfe Research started coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Barclays dropped their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Piper Sandler dropped their price target on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $122.27.

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.