First Pacific Financial Acquires Shares of 25,350 Prudential Financial, Inc. $PRU

First Pacific Financial acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,350 shares of the financial services provider’s stock, valued at approximately $2,724,000.

Other institutional investors have also modified their holdings of the company. SPC Financial Inc. boosted its holdings in shares of Prudential Financial by 2.6% in the first quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock valued at $444,000 after acquiring an additional 100 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Prudential Financial by 3.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 101 shares in the last quarter. Thrive Wealth Management LLC raised its holdings in shares of Prudential Financial by 2.6% during the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 101 shares in the last quarter. Eagle Capital Management LLC raised its holdings in shares of Prudential Financial by 0.3% during the 2nd quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock valued at $3,847,000 after purchasing an additional 108 shares in the last quarter. Finally, Principle Wealth Partners LLC raised its holdings in Prudential Financial by 0.3% in the 1st quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider’s stock worth $4,723,000 after acquiring an additional 109 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.1%

PRU opened at $103.77 on Wednesday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $36.53 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07. The firm has a 50 day simple moving average of $105.31 and a 200 day simple moving average of $104.99.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.47 billion. During the same quarter in the prior year, the firm earned $3.39 earnings per share. The business’s quarterly revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders 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 dividend on an annualized basis and a yield of 5.2%. Prudential Financial’s dividend payout ratio (DPR) is currently 119.73%.

Insider Buying and Selling at Prudential Financial

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

Wall Street Analysts Forecast Growth

PRU has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Wells Fargo & Company decreased their price target on shares of 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. Morgan Stanley lifted their target price on shares of Prudential Financial from $113.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, August 18th. JPMorgan Chase & Co. lifted their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Finally, Barclays lifted their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $122.08.

About Prudential Financial

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.