Empowered Funds LLC Acquires Shares of 41,927 Prudential Financial, Inc. $PRU

Empowered Funds LLC bought a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 41,927 shares of the financial services provider’s stock, valued at approximately $4,525,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRU. Jessup Wealth Management Inc bought a new position in shares of Prudential Financial in the 4th quarter worth about $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in Prudential Financial in the fourth quarter worth about $26,000. Basepoint Wealth LLC purchased a new stake in Prudential Financial in the fourth quarter worth about $30,000. Coston McIsaac & Partners increased its stake in shares of Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 128 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Prudential Financial by 93.1% during the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 134 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Prudential Financial from $113.00 to $123.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. Zacks Research upgraded Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Argus downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Jefferies Financial Group increased their target price on Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Finally, Morgan Stanley lifted their price target on Prudential Financial from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Monday, August 24th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $109.31.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of Prudential Financial stock in a transaction that occurred on Tuesday, July 28th. The shares were 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 approximately $197,348,010.75. The trade was a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ann M. Kappler sold 7,652 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the sale, 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 disclosure for this sale is available in the SEC filing. 0.05% of the stock is owned by insiders.

Prudential Financial Trading Down 1.7%

Prudential Financial stock opened at $117.75 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $127.72. The stock has a market capitalization of $40.62 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.84. The business’s fifty day moving average is $118.14 and its 200 day moving average is $106.40.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates 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 previous year, the firm earned $3.58 EPS. On average, sell-side analysts predict that Prudential Financial, Inc. will post 14.51 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. 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 dividend on an annualized basis and a dividend yield of 4.8%. Prudential Financial’s payout ratio is currently 50.72%.

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.