Tidal Investments LLC Buys 15,378 Shares of Prudential Financial, Inc. $PRU

Tidal Investments LLC raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 25.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,277 shares of the financial services provider’s stock after purchasing an additional 15,378 shares during the period. Tidal Investments LLC’s holdings in Prudential Financial were worth $8,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Jessup Wealth Management Inc bought a new stake in shares of Prudential Financial in the fourth quarter valued at $25,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Prudential Financial during the 4th quarter worth $26,000. Archer Investment Corp purchased a new stake in Prudential Financial in the 2nd quarter worth about $26,000. Basepoint Wealth LLC bought a new stake in Prudential Financial in the 4th quarter valued at about $30,000. Finally, SJS Investment Consulting Inc. raised its stake in Prudential Financial by 93.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 134 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann 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 completion of the transaction, the executive vice president directly owned 14,407 shares in the company, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the transaction, the insider directly owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. The trade was a 2.62% decrease in their position. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by company insiders.

Prudential Financial Stock Up 0.6%

PRU stock opened at $119.18 on Friday. The stock has a 50-day simple moving average of $120.03 and a two-hundred day simple moving average of $107.38. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $127.72. The firm has a market capitalization of $41.12 billion, a PE ratio of 10.80, a PEG ratio of 1.79 and a beta of 0.83. 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 (NYSE:PRU) last announced 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 firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $3.58 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post 14.51 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were paid a $1.40 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $5.60 annualized dividend and a yield of 4.7%. Prudential Financial’s dividend payout ratio is currently 50.72%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $103.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $129.00 to $131.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. Jefferies Financial Group lifted their price objective on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Finally, Piper Sandler boosted their target price 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. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, Prudential Financial currently has a consensus rating of “Reduce” and an average price target of $109.31.

About Prudential Financial

Prudential Financial, Inc is a global financial services company headquartered in Newark, New Jersey. Founded in 1875 as The Widows and Orphans Friendly Society, the company has grown from a life insurance provider into a diversified business offering insurance, retirement, investment management and related financial services.

Through its U.S. businesses, Prudential provides individual life insurance and annuities, workplace retirement plans, pension risk transfer solutions, group life and disability insurance, and other benefits and financial wellness products.