Allworth Financial LP Increases Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Allworth Financial LP boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,678 shares of the financial services provider's stock after buying an additional 4,759 shares during the quarter. Allworth Financial LP's holdings in Prudential Financial were worth $1,631,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PRU. North Capital Inc. bought a new position in shares of Prudential Financial in the 1st quarter worth $28,000. Opal Wealth Advisors LLC purchased a new position in Prudential Financial in the first quarter valued at about $30,000. Lee Danner & Bass Inc. bought a new position in Prudential Financial in the fourth quarter worth about $35,000. TCTC Holdings LLC purchased a new stake in shares of Prudential Financial during the fourth quarter valued at about $37,000. Finally, Park Place Capital Corp grew its position in shares of Prudential Financial by 1,841.2% in the 1st quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock worth $37,000 after buying an additional 313 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the company an "equal weight" rating in a research note on Thursday. Wall Street Zen cut Prudential Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Barclays upped their target price on Prudential Financial from $109.00 to $119.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Finally, UBS Group cut their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned 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 a consensus target price of $122.15.

Prudential Financial Trading Down 1.3%

Shares of Prudential Financial stock opened at $105.80 on Friday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The stock has a market cap of $37.45 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.01 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. The stock's 50 day simple moving average is $105.23 and its 200-day simple moving average is $108.86.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. The company's quarterly revenue was down 38.2% compared to the same quarter last year. Analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.10%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's payout ratio is presently 85.58%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of Prudential Financial stock in a transaction on Monday, June 16th. The shares were bought at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the transaction, the insider directly owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.25% of the company's stock.

About Prudential Financial

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.

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