Thurston Springer Miller Herd & Titak Inc. Acquires New Holdings in Prudential Financial, Inc. (NYSE:PRU)

Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 698 shares of the financial services provider’s stock, valued at approximately $82,000.

Other large investors have also recently made changes to their positions in the company. DNB Asset Management AS lifted its position in Prudential Financial by 7.6% during the second quarter. DNB Asset Management AS now owns 62,274 shares of the financial services provider’s stock valued at $7,298,000 after acquiring an additional 4,388 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Prudential Financial by 99.3% during the second quarter. GAMMA Investing LLC now owns 6,406 shares of the financial services provider’s stock worth $751,000 after acquiring an additional 3,192 shares during the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of Prudential Financial by 45.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,187 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 373 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Prudential Financial by 83.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,439 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 656 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in Prudential Financial by 2.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 114,342 shares of the financial services provider’s stock worth $13,315,000 after purchasing an additional 3,105 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PRU shares. Piper Sandler lowered their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Jefferies Financial Group lowered their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. JPMorgan Chase & Co. lifted their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Morgan Stanley increased their target price on shares of Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company lifted their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $118.25.

Prudential Financial Trading Up 2.0 %

Prudential Financial stock traded up $2.09 during trading on Wednesday, reaching $109.14. 124,671 shares of the company were exchanged, compared to its average volume of 1,491,185. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s 50 day simple moving average is $119.03 and its two-hundred day simple moving average is $114.25. The company has a market capitalization of $39.18 billion, a P/E ratio of 18.20, a PEG ratio of 0.86 and a beta of 1.34. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.76%. Prudential Financial’s payout ratio is currently 88.44%.

Insider Buying and Selling at Prudential Financial

In other news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the sale, the executive vice president now directly owns 202,083 shares in the company, valued at approximately $23,960,981.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is currently 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.