Journey Strategic Wealth LLC Buys 3,755 Shares of Prudential Financial, Inc. (NYSE:PRU)

Journey Strategic Wealth LLC grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 55.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 10,488 shares of the financial services provider's stock after acquiring an additional 3,755 shares during the quarter. Journey Strategic Wealth LLC's holdings in Prudential Financial were worth $1,171,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PRU. Brighton Jones LLC increased its position in Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock worth $436,000 after purchasing an additional 133 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Prudential Financial during the 4th quarter valued at $253,000. Sei Investments Co. increased its stake in shares of Prudential Financial by 12.6% in the 4th quarter. Sei Investments Co. now owns 82,464 shares of the financial services provider's stock valued at $9,774,000 after buying an additional 9,196 shares during the period. Congress Wealth Management LLC DE boosted its position in shares of Prudential Financial by 49.6% in the 4th quarter. Congress Wealth Management LLC DE now owns 3,242 shares of the financial services provider's stock worth $384,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Modern Wealth Management LLC lifted its holdings in Prudential Financial by 13.7% during the fourth quarter. Modern Wealth Management LLC now owns 3,975 shares of the financial services provider's stock worth $446,000 after acquiring an additional 478 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Price Performance

PRU stock traded down $1.56 during midday trading on Monday, reaching $103.65. 486,520 shares of the stock were exchanged, compared to its average volume of 1,758,986. The stock has a market capitalization of $36.69 billion, a PE ratio of 16.43, a P/E/G ratio of 1.03 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 debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. The company has a fifty day moving average price of $105.03 and a 200 day moving average price of $107.75.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping 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 15.84% and a net margin of 3.84%. Prudential Financial's revenue for the quarter was down 38.2% compared to the same quarter last year. During the same period last year, the company earned $3.12 EPS. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the firm's stock in a transaction on Monday, June 16th. The stock was purchased 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 of the company's stock, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price target on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Barclays upped their target price on Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Piper Sandler reduced their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Finally, UBS Group reduced their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Prudential Financial presently has a consensus rating of "Hold" and an average target price of $121.75.

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.