Patriot Financial Group Insurance Agency LLC Buys 5,501 Shares of Prudential Financial, Inc. $PRU

Patriot Financial Group Insurance Agency LLC raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 108.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,552 shares of the financial services provider’s stock after acquiring an additional 5,501 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Prudential Financial were worth $1,031,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 133 shares during the period. Empowered Funds LLC lifted its position in Prudential Financial by 30.5% during the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after buying an additional 4,134 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Prudential Financial by 3.5% during the 2nd quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock valued at $447,000 after buying an additional 140 shares in the last quarter. AXA S.A. grew its position in shares of Prudential Financial by 25.8% in the 2nd quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock worth $6,092,000 after buying an additional 11,630 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of Prudential Financial by 15.1% in the 2nd quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock worth $4,005,000 after acquiring an additional 4,895 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Zacks Research raised shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Wells Fargo & Company lifted their target price on shares of Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Piper Sandler boosted their price target on Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Finally, UBS Group reduced their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Eleven investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $101.92.

Prudential Financial Stock Up 0.9%

NYSE:PRU opened at $109.18 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $37.89 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.97 and a beta of 0.86. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $119.76. The firm has a 50-day simple moving average of $102.70 and a two-hundred day simple moving average of $104.21.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The company had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. During the same quarter last year, the business earned $3.29 EPS. Analysts predict that Prudential Financial, Inc. will post 13.81 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.1%. Prudential Financial’s dividend payout ratio is currently 57.61%.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.