AE Wealth Management LLC Buys 13,123 Shares of Prudential Financial, Inc. $PRU

AE Wealth Management LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241,819 shares of the financial services provider's stock after acquiring an additional 13,123 shares during the period. AE Wealth Management LLC owned 0.07% of Prudential Financial worth $27,297,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Whittier Trust Co. increased its stake in shares of Prudential Financial by 30.1% in the 4th quarter. Whittier Trust Co. now owns 2,981 shares of the financial services provider's stock valued at $351,000 after purchasing an additional 690 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Prudential Financial by 20.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,178 shares of the financial services provider's stock valued at $7,244,000 after acquiring an additional 10,937 shares in the last quarter. MBM Wealth Consultants LLC boosted its holdings in shares of Prudential Financial by 8.6% during the 4th quarter. MBM Wealth Consultants LLC now owns 4,070 shares of the financial services provider's stock valued at $459,000 after acquiring an additional 324 shares in the last quarter. Greenwood Capital Associates LLC boosted its holdings in shares of Prudential Financial by 3.1% during the 4th quarter. Greenwood Capital Associates LLC now owns 19,295 shares of the financial services provider's stock valued at $2,178,000 after acquiring an additional 587 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in shares of Prudential Financial by 3.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 3,238 shares of the financial services provider's stock valued at $366,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Up 2.0%

Shares of NYSE PRU opened at $101.75 on Friday. The firm's 50-day moving average price is $98.26 and its 200-day moving average price is $104.94. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $35.39 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 1.28 and a beta of 0.95. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). The business had revenue of $14.52 billion for the quarter, compared to analysts' expectations of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same quarter in the prior year, the company posted $2.96 earnings per share. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Tuesday, February 17th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 5.5%. The ex-dividend date was Tuesday, February 17th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.35. Prudential Financial's payout ratio is currently 56.00%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group cut their price objective on Prudential Financial from $105.00 to $98.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Weiss Ratings downgraded Prudential Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 13th. JPMorgan Chase & Co. cut their price objective on Prudential Financial from $133.00 to $127.00 and set a "neutral" rating on the stock in a report on Wednesday, February 4th. Mizuho cut their target price on Prudential Financial from $113.00 to $101.00 and set a "neutral" rating on the stock in a report on Monday, April 13th. Finally, Keefe, Bruyette & Woods cut their target price on Prudential Financial from $106.00 to $104.00 and set a "market perform" rating on the stock in a report on Friday, April 10th. Ten research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $108.00.

Insider Activity

In related news, Director Thomas D. Stoddard bought 250 shares of the company's stock in a transaction on Tuesday, February 17th. The shares were acquired at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the purchase, the director directly owned 250 shares of the company's stock, valued at approximately $25,742.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of the company's stock in a transaction on Friday, January 23rd. The stock was bought at an average price of $24.87 per share, for a total transaction of $34,985,598.93. Following the completion of the purchase, the insider directly owned 7,709,624 shares in the company, valued at approximately $191,738,348.88. This represents a 22.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 1,408,389 shares of company stock valued at $35,154,439. 0.05% of the stock is currently owned by company insiders.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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