Prudential Financial, Inc. (NYSE:PRU) Stake Raised by First Business Financial Services Inc.

First Business Financial Services Inc. boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,386 shares of the financial services provider’s stock after acquiring an additional 812 shares during the quarter. First Business Financial Services Inc.’s holdings in Prudential Financial were worth $2,105,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC boosted its position in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of Prudential Financial in the second quarter valued at $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial during the 3rd quarter worth $31,000. Strategic Financial Concepts LLC grew its holdings in shares of Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 25,027 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Prudential Financial during the first quarter worth $33,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. This trade represents a 16.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Up 0.4 %

PRU opened at $125.75 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The business has a 50 day moving average price of $121.76 and a 200 day moving average price of $119.06. The firm has a market cap of $44.77 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Prudential Financial, Inc. has a twelve month low of $93.32 and a twelve month high of $129.13.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period last year, the business posted $3.44 earnings per share. Research analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.14%. Prudential Financial’s dividend payout ratio is 46.22%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen assumed coverage on Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective on the stock. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays increased their target price on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company upped their target price on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $125.69.

Prudential Financial Company 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.