Nottingham Advisors Inc. Invests $319,000 in Prudential Financial, Inc. (NYSE:PRU)

Nottingham Advisors Inc. acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,718 shares of the financial services provider’s stock, valued at approximately $319,000.

Several other large investors have also recently added to or reduced their stakes in PRU. Cullinan Associates Inc. boosted its stake in shares of Prudential Financial by 2,355.0% in the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock valued at $17,798,000 after buying an additional 145,423 shares during the period. National Bank of Canada FI raised its position in shares of Prudential Financial by 44.9% during the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after acquiring an additional 71,274 shares in the last quarter. Greenwood Capital Associates LLC purchased a new stake in Prudential Financial during the fourth quarter worth approximately $1,087,000. Crestline Management LP boosted its holdings in Prudential Financial by 50.0% in the fourth quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock valued at $6,223,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in Prudential Financial during the fourth quarter worth approximately $761,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of Prudential Financial stock in a transaction dated Thursday, June 20th. The stock was bought at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the transaction, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on PRU shares. Jefferies Financial Group dropped their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Barclays assumed coverage on Prudential Financial in a report on Wednesday. They set an “equal weight” rating and a $118.00 price objective on the stock. Wells Fargo & Company raised Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a research report on Monday, August 12th. Citigroup lifted their price target on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus price target of $119.23.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded down $1.26 on Thursday, reaching $118.29. 167,394 shares of the stock were exchanged, compared to its average volume of 1,492,503. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $42.23 billion, a PE ratio of 20.33, a PEG ratio of 0.94 and a beta of 1.30. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $128.52. The business has a fifty day moving average price of $118.22 and a two-hundred day moving average price of $115.56.

Prudential Financial (NYSE:PRU) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.40%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

About Prudential Financial

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.