United Capital Financial Advisors LLC Purchases Shares of 12,861 Prudential Financial, Inc. $PRU

United Capital Financial Advisors LLC acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,861 shares of the financial services provider’s stock, valued at approximately $1,388,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keating Financial Advisory Services Inc. grew its position in Prudential Financial by 34.8% in the second quarter. Keating Financial Advisory Services Inc. now owns 395 shares of the financial services provider’s stock worth $43,000 after buying an additional 102 shares during the last quarter. Rossby Financial LCC boosted its stake in shares of Prudential Financial by 32.4% during the 4th quarter. Rossby Financial LCC now owns 421 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 103 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Prudential Financial by 5.6% in the 4th quarter. TD Private Client Wealth LLC now owns 1,972 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 104 shares during the last quarter. Western Wealth Management LLC boosted its holdings in shares of Prudential Financial by 1.7% in the fourth quarter. Western Wealth Management LLC now owns 6,215 shares of the financial services provider’s stock worth $702,000 after buying an additional 105 shares during the period. Finally, Apella Capital LLC increased its position in shares of Prudential Financial by 3.7% in the first quarter. Apella Capital LLC now owns 2,979 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 106 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Mizuho lifted their price objective on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Morgan Stanley increased their price target on shares of Prudential Financial from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Monday, August 24th. Piper Sandler boosted 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. Zacks Research upgraded Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Finally, Wells Fargo & Company boosted their target price on shares of Prudential Financial from $103.00 to $110.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $109.31.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 7,652 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the transaction, the executive vice president owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value 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 position. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by corporate insiders.

Prudential Financial Trading Down 0.5%

NYSE:PRU opened at $119.80 on Friday. The company’s 50 day moving average is $117.95 and its 200-day moving average is $106.27. The company has a quick ratio of 0.16, a current 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 has a market cap of $41.33 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 2.25 and a beta of 0.84.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same period last year, the business posted $3.58 EPS. Equities analysts anticipate that Prudential Financial, Inc. will post 14.51 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be paid a $1.40 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 annualized dividend and a dividend yield of 4.7%. Prudential Financial’s dividend payout ratio (DPR) is presently 50.72%.

About Prudential Financial

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.