PSI Advisors LLC Purchases 124 Shares of Prudential Financial, Inc. (NYSE:PRU)

PSI Advisors LLC raised its position in Prudential Financial, Inc. (NYSE:PRU) by 40.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 430 shares of the financial services provider’s stock after buying an additional 124 shares during the quarter. PSI Advisors LLC’s holdings in Prudential Financial were worth $50,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Creekmur Asset Management LLC grew its holdings in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of Prudential Financial during the 2nd quarter valued at approximately $29,000. Crewe Advisors LLC bought a new stake in shares of Prudential Financial during the 1st quarter valued at approximately $33,000. ESL Trust Services LLC bought a new stake in shares of Prudential Financial during the 1st quarter valued at approximately $34,000. Finally, Pineridge Advisors LLC bought a new stake in shares of Prudential Financial during the 4th quarter valued at approximately $36,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Up 0.8 %

Shares of NYSE PRU opened at $115.24 on Friday. The company has a market capitalization of $41.14 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 0.89 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. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The company’s 50 day moving average price is $117.71 and its 200-day moving average price is $114.69.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the purchase, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the purchase, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PRU has been the topic of several recent research reports. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group cut their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Piper Sandler cut their target price on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price on the stock in a research report on Monday, August 12th. Finally, Citigroup lifted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $119.33.

Prudential Financial Company 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.