Thurston Springer Miller Herd & Titak Inc. Acquires Shares of 698 Prudential Financial, Inc. (NYSE:PRU)

Thurston Springer Miller Herd & Titak Inc. acquired a new position in Prudential Financial, Inc. (NYSE:PRU) during the second quarter, Holdings Channel.com reports. The firm acquired 698 shares of the financial services provider’s stock, valued at approximately $82,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after acquiring an additional 5,154,865 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Prudential Financial by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after buying an additional 388,363 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Prudential Financial by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,346,612 shares of the financial services provider’s stock valued at $243,367,000 after buying an additional 72,696 shares during the period. abrdn plc raised its stake in Prudential Financial by 37.5% during the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock worth $114,829,000 after acquiring an additional 302,164 shares during the period. Finally, Norges Bank bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $113,478,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In related news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the acquisition, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Stock Performance

Shares of PRU stock traded up $2.09 during trading on Wednesday, reaching $109.14. The company had a trading volume of 124,671 shares, compared to its average volume of 1,491,185. The firm’s 50 day simple moving average is $119.03 and its two-hundred day simple moving average is $114.25. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market capitalization of $39.18 billion, a PE ratio of 18.20, a PEG ratio of 0.86 and a beta of 1.34.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.76%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Citigroup boosted their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their price target on shares of Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Finally, Jefferies Financial Group cut their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average price target of $118.25.

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.