J.W. Cole Advisors Inc. Has $3.36 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

J.W. Cole Advisors Inc. raised its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 28.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,092 shares of the financial services provider's stock after buying an additional 6,592 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Prudential Financial were worth $3,361,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new stake in Prudential Financial during the first quarter worth about $28,000. Opal Wealth Advisors LLC bought a new position in Prudential Financial during the first quarter valued at $30,000. Lee Danner & Bass Inc. purchased a new stake in shares of Prudential Financial in the fourth quarter worth $35,000. Park Place Capital Corp raised its position in Prudential Financial by 1,841.2% during the first quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 313 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Prudential Financial during the fourth quarter valued at about $38,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

NYSE:PRU opened at $103.31 on Monday. The company has a fifty day moving average of $105.31 and a 200-day moving average of $108.26. The firm has a market capitalization of $36.57 billion, a P/E ratio of 16.37, a P/E/G ratio of 1.02 and a beta of 1.07. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.18 by $0.11. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same period in the prior year, the firm earned $3.12 earnings per share. The company's revenue was down 38.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.23%. Prudential Financial's payout ratio is 85.58%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PRU. Barclays boosted their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday. Piper Sandler cut their target price 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. Morgan Stanley decreased their target price on shares of Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating on the stock in a research note on Monday, July 14th. Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $121.62.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the stock in a transaction dated Monday, June 16th. The stock was purchased at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the transaction, the insider owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

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.

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