Long Run Wealth Advisors LLC Purchases New Position in Prudential Financial, Inc. (NYSE:PRU)

Long Run Wealth Advisors LLC bought a new stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,263 shares of the financial services provider's stock, valued at approximately $1,481,000.

A number of other hedge funds also recently made changes to their positions in PRU. Accel Wealth Management increased its position in Prudential Financial by 3.0% in the first quarter. Accel Wealth Management now owns 10,240 shares of the financial services provider's stock worth $1,144,000 after buying an additional 298 shares during the last quarter. TrueWealth Advisors LLC raised its position in shares of Prudential Financial by 10.0% in the first quarter. TrueWealth Advisors LLC now owns 5,046 shares of the financial services provider's stock worth $564,000 after buying an additional 460 shares in the last quarter. Apella Capital LLC bought a new stake in shares of Prudential Financial during the 1st quarter valued at about $208,000. Viking Fund Management LLC grew its stake in Prudential Financial by 1.8% in the 1st quarter. Viking Fund Management LLC now owns 83,000 shares of the financial services provider's stock worth $9,269,000 after buying an additional 1,500 shares in the last quarter. Finally, Crestmont Private Wealth LLC raised its position in Prudential Financial by 13.5% during the first quarter. Crestmont Private Wealth LLC now owns 2,378 shares of the financial services provider's stock valued at $266,000 after purchasing an additional 283 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

PRU traded down $0.16 during mid-day trading on Thursday, reaching $103.62. 989,986 shares of the company traded hands, compared to its average volume of 1,640,372. The stock has a market capitalization of $36.68 billion, a P/E ratio of 13.87, a P/E/G ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company's fifty day moving average price is $102.92 and its 200-day moving average price is $112.24.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.11. The business had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Prudential Financial's revenue for the quarter was down 38.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.12 earnings per share. On average, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.21%. Prudential Financial's payout ratio is 85.58%.

Insider Activity at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the acquisition, the insider now owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. The trade was a 60.18% increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PRU. JPMorgan Chase & Co. reduced their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler reduced their target price on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Morgan Stanley lifted their target price on shares of Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods cut their price target on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company lifted their price objective on Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of "Hold" and a consensus target price of $120.15.

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.