OneDigital Investment Advisors LLC Invests $1.14 Million in Prudential Financial, Inc. $PRU

OneDigital Investment Advisors LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the second quarter, Holdings Channel.com reports. The fund bought 10,542 shares of the financial services provider’s stock, valued at approximately $1,138,000.

Several other hedge funds have also added to or reduced their stakes in the business. Jessup Wealth Management Inc acquired a new position in shares of Prudential Financial in the fourth quarter valued at $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth about $26,000. Salomon & Ludwin LLC lifted its stake in shares of Prudential Financial by 98.3% during the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after buying an additional 114 shares during the last quarter. Basepoint Wealth LLC bought a new stake in shares of Prudential Financial during the 4th quarter worth about $30,000. Finally, Coston McIsaac & Partners grew its stake in Prudential Financial by 93.4% in the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the sale, the insider owned 7,973,657 shares of the company’s stock, valued at $197,348,010.75. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.05% of the stock is currently owned by company insiders.

Prudential Financial Stock Down 0.5%

Shares of PRU opened at $124.54 on Tuesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $127.72. The firm’s 50 day moving average is $115.36 and its 200-day moving average is $105.33. The stock has a market capitalization of $42.97 billion, a PE ratio of 11.28, a P/E/G ratio of 2.38 and a beta of 0.84.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter in the prior year, the business posted $3.58 earnings per share. Equities research analysts forecast that Prudential Financial, Inc. will post 14.17 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be given a $1.40 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.5%. Prudential Financial’s dividend payout ratio (DPR) is presently 50.72%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Prudential Financial from $110.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Argus downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Wells Fargo & Company increased their target price on Prudential Financial from $100.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, July 9th. Zacks Research raised Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Finally, Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $107.77.

Prudential Financial Company 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.