Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,800 shares of the financial services provider’s stock after buying an additional 170 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Prudential Financial were worth $328,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its stake in Prudential Financial by 3.5% in the 4th quarter. Gilbert & Cook Inc. now owns 10,226 shares of the financial services provider’s stock worth $1,061,000 after purchasing an additional 344 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Prudential Financial by 8.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 28,213 shares of the financial services provider’s stock worth $2,926,000 after purchasing an additional 2,199 shares during the period. TD Asset Management Inc boosted its stake in Prudential Financial by 5.2% in the 4th quarter. TD Asset Management Inc now owns 123,336 shares of the financial services provider’s stock worth $12,791,000 after purchasing an additional 6,149 shares during the period. Focus Financial Network Inc. ADV acquired a new position in Prudential Financial in the 4th quarter worth approximately $755,000. Finally, Bank of Nova Scotia boosted its stake in Prudential Financial by 321.9% in the 4th quarter. Bank of Nova Scotia now owns 142,326 shares of the financial services provider’s stock worth $14,760,000 after purchasing an additional 108,591 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, EVP Ann M. Kappler sold 2,839 shares of the business’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 in the company, valued at approximately $1,648,705.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was 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 in the company, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Up 0.2 %

Prudential Financial stock opened at $120.81 on Friday. The company has a market capitalization of $43.13 billion, a P/E ratio of 20.55, a P/E/G ratio of 0.95 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 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’s fifty day simple moving average is $117.29 and its 200-day simple moving average is $116.67.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Sell-side analysts forecast that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.30%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRU. UBS Group raised their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Citigroup lifted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group decreased their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $120.83.

Prudential Financial Company Profile

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.