Americana Partners LLC Purchases 2,625 Shares of Prudential Financial, Inc. (NYSE:PRU)

Americana Partners LLC raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 13.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,893 shares of the financial services provider’s stock after acquiring an additional 2,625 shares during the period. Americana Partners LLC’s holdings in Prudential Financial were worth $2,566,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC boosted its holdings in 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 acquiring an additional 108 shares during the period. Lynx Investment Advisory purchased a new stake in shares of Prudential Financial during the second quarter valued at approximately $29,000. Crewe Advisors LLC purchased a new position in shares of Prudential Financial in the first quarter worth $33,000. ESL Trust Services LLC bought a new stake in Prudential Financial during the 1st quarter valued at $34,000. Finally, Pineridge Advisors LLC purchased a new stake in Prudential Financial during the 4th quarter valued at $36,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 1.1 %

NYSE:PRU traded up $1.36 during mid-day trading on Friday, hitting $121.16. 2,141,459 shares of the company’s stock were exchanged, compared to its average volume of 1,501,747. The company has a market cap of $43.50 billion, a PE ratio of 20.61, a P/E/G ratio of 0.89 and a beta of 1.34. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The business has a fifty day moving average price of $118.10 and a 200 day moving average price of $115.22.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Equities analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Activity at Prudential Financial

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

Analyst Upgrades and Downgrades

PRU has been the subject of several recent analyst reports. Jefferies Financial Group lowered their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Morgan Stanley dropped their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, Piper Sandler reduced their price objective 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. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $119.33.

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.