Concurrent Investment Advisors LLC Buys 1,733 Shares of Prudential Financial, Inc. (NYSE:PRU)

Concurrent Investment Advisors LLC lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 8.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,977 shares of the financial services provider’s stock after purchasing an additional 1,733 shares during the period. Concurrent Investment Advisors LLC’s holdings in Prudential Financial were worth $2,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Creekmur Asset Management LLC grew its stake in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory bought a new stake in Prudential Financial during the second quarter valued at approximately $29,000. Crewe Advisors LLC purchased a new stake in Prudential Financial during the first quarter valued at approximately $33,000. ESL Trust Services LLC purchased a new position in shares of Prudential Financial during the 1st quarter worth $34,000. Finally, Bank & Trust Co bought a new stake in shares of Prudential Financial during the 2nd quarter valued at $37,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 6.3 %

NYSE PRU opened at $127.73 on Thursday. The stock has a 50 day moving average price of $121.38 and a 200-day moving average price of $118.62. Prudential Financial, Inc. has a one year low of $89.90 and a one year high of $129.13. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $45.47 billion, a P/E ratio of 11.35, a P/E/G ratio of 0.86 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period last year, the company posted $3.44 EPS. As a group, equities analysts predict that Prudential Financial, Inc. will post 13.32 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PRU. Wells Fargo & Company raised their target price on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday. Citigroup increased their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Morgan Stanley lowered their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Bank of America raised their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Argus upgraded Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $123.85.

Insider Activity

In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial 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 directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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.