Arkadios Wealth Advisors Boosts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Key Points

• Arkadios Wealth Advisors significantly increased its stake in Prudential Financial by 146.6% during Q1, holding a total of 13,773 shares worth approximately $1.54 million.
• Prudential Financial's insider activity includes a major purchase by Insurance Co Of America, acquiring 1,675,978 shares and increasing their ownership by 112.29%.
• Analysts have mixed ratings on Prudential Financial, with a current consensus rating of "Hold" and an average price target of $121.75.

Arkadios Wealth Advisors grew its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 146.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,773 shares of the financial services provider's stock after purchasing an additional 8,187 shares during the period. Arkadios Wealth Advisors' holdings in Prudential Financial were worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PRU. Allspring Global Investments Holdings LLC boosted its position in Prudential Financial by 3.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider's stock valued at $2,320,000 after acquiring an additional 721 shares during the last quarter. Golden State Wealth Management LLC boosted its position in Prudential Financial by 728.4% during the first quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 743 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Prudential Financial by 9.7% during the first quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 222 shares during the last quarter. Bridgewater Associates LP boosted its position in Prudential Financial by 41.8% during the fourth quarter. Bridgewater Associates LP now owns 388,349 shares of the financial services provider's stock valued at $46,031,000 after acquiring an additional 114,459 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in Prudential Financial by 9.0% during the first quarter. Sound Income Strategies LLC now owns 35,408 shares of the financial services provider's stock valued at $3,954,000 after acquiring an additional 2,913 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PRU shares. Barclays increased their price objective on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Wells Fargo & Company cut their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Morgan Stanley cut their price objective on shares of Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Monday, July 14th. 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 research report on Tuesday, May 27th. Finally, Piper Sandler lowered their target price on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $121.75.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the acquisition, the insider owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.

Prudential Financial Stock Up 1.1%

NYSE:PRU traded up $1.07 on Monday, hitting $101.78. The stock had a trading volume of 1,671,762 shares, compared to its average volume of 1,645,220. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market cap of $36.03 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 0.93 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 firm's fifty day simple moving average is $104.90 and its two-hundred day simple moving average is $107.24.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. During the same quarter last year, the business posted $3.39 EPS. Prudential Financial's quarterly revenue was down 2.5% compared to the same quarter last year. Analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.3%. Prudential Financial's dividend payout ratio (DPR) is presently 119.73%.

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.