Lindbrook Capital LLC Has $108,000 Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

09 Jan 2024, 10:50 by Michael Walen · The Markets Daily

Lindbrook Capital LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 38.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,134 shares of the financial services provider’s stock after buying an additional 313 shares during the quarter. Lindbrook Capital LLC’s holdings in Prudential Financial were worth $108,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Czech National Bank increased its stake in shares of Prudential Financial by 46.8% during the 3rd quarter. Czech National Bank now owns 63,444 shares of the financial services provider’s stock worth $6,020,000 after purchasing an additional 20,235 shares during the last quarter. Bridgewater Associates LP increased its stake in shares of Prudential Financial by 80.5% during the 2nd quarter. Bridgewater Associates LP now owns 248,877 shares of the financial services provider’s stock worth $21,956,000 after purchasing an additional 110,982 shares during the last quarter. Brookstone Capital Management increased its stake in shares of Prudential Financial by 11.9% during the 2nd quarter. Brookstone Capital Management now owns 5,705 shares of the financial services provider’s stock worth $513,000 after purchasing an additional 605 shares during the last quarter. Allworth Financial LP increased its stake in shares of Prudential Financial by 4.2% during the 2nd quarter. Allworth Financial LP now owns 3,758 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 151 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Prudential Financial by 63.6% during the 2nd quarter. Cerity Partners LLC now owns 137,498 shares of the financial services provider’s stock worth $12,130,000 after purchasing an additional 53,461 shares during the last quarter. Institutional investors and hedge funds own 54.92% of the company’s stock.

Prudential Financial Stock Up 0.2 %

Shares of NYSE:PRU opened at $104.51 on Tuesday. Prudential Financial, Inc. has a one year low of $75.37 and a one year high of $107.31. The company has a 50 day moving average of $98.48 and a 200-day moving average of $95.26. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market cap of $37.73 billion, a price-to-earnings ratio of 67.43, a P/E/G ratio of 0.75 and a beta of 1.38.

Prudential Financial (NYSE:PRU – Get Free Report) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.44 EPS for the quarter, topping the consensus estimate of $3.16 by $0.28. Prudential Financial had a net margin of 1.21% and a return on equity of 16.03%. The company had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the previous year, the company earned $2.13 EPS. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 11.64 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Tuesday, November 21st were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.78%. The ex-dividend date was Monday, November 20th. Prudential Financial’s payout ratio is 322.58%.

Insider Buying and Selling

In related news, SVP Timothy L. Schmidt sold 8,281 shares of Prudential Financial stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $94.49, for a total transaction of $782,471.69. Following the transaction, the senior vice president now owns 14,621 shares of the company’s stock, valued at approximately $1,381,538.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Prudential Financial news, SVP Timothy L. Schmidt sold 8,281 shares of Prudential Financial stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $94.49, for a total value of $782,471.69. Following the transaction, the senior vice president now owns 14,621 shares of the company’s stock, valued at $1,381,538.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kenneth Tanji sold 23,124 shares of Prudential Financial stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $105.14, for a total transaction of $2,431,257.36. Following the completion of the transaction, the chief financial officer now directly owns 47,155 shares in the company, valued at approximately $4,957,876.70. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Prudential Financial from $103.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $118.00 target price (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Prudential Financial in a research note on Wednesday, October 4th. They issued a “hold” rating and a $99.00 target price on the stock. StockNews.com assumed coverage on shares of Prudential Financial in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Raymond James raised their target price on shares of Prudential Financial from $125.00 to $132.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $103.60.

View Our Latest Stock Report on PRU

Prudential Financial Company Profile

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