Brighton Jones LLC Grows Position in Prudential Financial, Inc. (NYSE:PRU)

Brighton Jones LLC grew its stake in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,852 shares of the financial services provider’s stock after buying an additional 171 shares during the period. Brighton Jones LLC’s holdings in Prudential Financial were worth $430,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new position in Prudential Financial during the fourth quarter worth $29,000. Opal Wealth Advisors LLC purchased a new position in Prudential Financial during the first quarter worth $30,000. Hopwood Financial Services Inc. purchased a new position in Prudential Financial during the fourth quarter worth $34,000. Lee Danner & Bass Inc. purchased a new position in Prudential Financial during the fourth quarter worth $35,000. Finally, TCTC Holdings LLC acquired a new stake in shares of Prudential Financial during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the transaction, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. The trade was a 60.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PRU shares. Keefe, Bruyette & Woods decreased their price objective on Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a report on Wednesday, May 7th. Morgan Stanley raised their price objective on Prudential Financial from $108.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. UBS Group decreased their price objective on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Piper Sandler decreased their price objective on Prudential Financial from $110.00 to $109.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prudential Financial has an average rating of “Hold” and an average price target of $120.15.

Get Our Latest Stock Analysis on Prudential Financial

Prudential Financial Trading Down 1.5%

NYSE:PRU opened at $103.38 on Wednesday. The business’s 50-day moving average is $103.22 and its two-hundred day moving average is $110.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The firm has a market capitalization of $36.60 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.00 and a beta of 1.07.

Prudential Financial (NYSE:PRUGet Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same period last year, the company posted $3.12 earnings per share. The firm’s revenue was down 38.2% compared to the same quarter last year. Research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.22%. The ex-dividend date was Tuesday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 85.58%.

Prudential Financial Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.