PSI Advisors LLC Grows Stock Position in Prudential Financial, Inc. (NYSE:PRU)

PSI Advisors LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 40.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 430 shares of the financial services provider’s stock after buying an additional 124 shares during the quarter. PSI Advisors LLC’s holdings in Prudential Financial were worth $50,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRU. Choreo LLC increased its stake in Prudential Financial by 163.5% in the fourth quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 4,306 shares during the period. Cullinan Associates Inc. increased its stake in Prudential Financial by 2,355.0% in the first quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after purchasing an additional 145,423 shares during the period. National Bank of Canada FI increased its stake in Prudential Financial by 44.9% in the first quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after purchasing an additional 71,274 shares during the period. Greenwood Capital Associates LLC purchased a new stake in Prudential Financial in the fourth quarter worth $1,087,000. Finally, Crestline Management LP increased its stake in Prudential Financial by 50.0% in the fourth quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock worth $6,223,000 after purchasing an additional 20,000 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of several research reports. Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target on the stock in a research note on Monday, August 12th. Evercore ISI raised their price target on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Citigroup raised their price objective on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price objective on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $119.33.

Prudential Financial Stock Up 0.8 %

Shares of PRU stock opened at $115.24 on Friday. The stock has a 50 day moving average of $117.71 and a 200 day moving average of $114.69. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market cap of $41.14 billion, a P/E ratio of 19.60, a P/E/G ratio of 0.89 and a beta of 1.34. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52.

Prudential Financial Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Activity

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

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.