Signal Advisors Wealth LLC Invests $351,000 in Prudential Financial, Inc. $PRU

Key Points

• Signal Advisors Wealth LLC has acquired 3,263 shares of Prudential Financial, Inc., valued at approximately $351,000, during the second quarter.
• Institutional investors collectively own 56.83% of Prudential Financial's stock, with notable increases from firms like GAMMA Investing LLC and Goldman Sachs Group Inc.
• Prudential recently announced a quarterly dividend of $1.35 per share, resulting in an annualized yield of 5.2% with a payout ratio of 119.73%.

Signal Advisors Wealth LLC purchased a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,263 shares of the financial services provider's stock, valued at approximately $351,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Meeder Asset Management Inc. lifted its stake in shares of Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock worth $26,000 after acquiring an additional 111 shares during the period. Cheviot Value Management LLC acquired a new stake in shares of Prudential Financial in the 1st quarter worth $26,000. North Capital Inc. acquired a new stake in shares of Prudential Financial in the 1st quarter worth $28,000. AlphaQuest LLC grew its stake in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock worth $28,000 after purchasing an additional 245 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Prudential Financial during the 1st quarter worth $30,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Price Performance

PRU stock traded up $1.15 on Tuesday, hitting $104.00. 131,923 shares of the company's stock traded hands, compared to its average volume of 1,752,137. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The stock has a market cap of $36.61 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 0.92 and a beta of 1.07. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The stock has a fifty day moving average of $105.25 and a 200-day moving average of $105.09.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.22 by $0.36. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.39 earnings per share. On average, analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. Prudential Financial's dividend payout ratio is 119.73%.

Insider Transactions at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Barclays upped their price target on shares of Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Wall Street Zen raised shares of Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley upped their price target on shares of Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Finally, Wells Fargo & Company decreased their price target on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $122.08.

Prudential Financial 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.