Kestra Advisory Services LLC Purchases 22,107 Shares of Prudential Financial, Inc. $PRU

Key Points

• Kestra Advisory Services LLC increased its Prudential Financial stake by 44.6% in the first quarter, buying 22,107 additional shares and bringing its total holding to 71,642 shares worth about $7.0 million.
• Prudential reported better-than-expected quarterly results, with EPS of $3.61 versus the $3.09 estimate and revenue of $15.23 billion topping forecasts.
• The company also paid a quarterly dividend of $1.40 per share, equivalent to an annualized yield of 4.9%, while analysts currently have a consensus rating of “Reduce” with an average price target of $104.58.

Kestra Advisory Services LLC lifted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 44.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,642 shares of the financial services provider's stock after purchasing an additional 22,107 shares during the quarter. Kestra Advisory Services LLC's holdings in Prudential Financial were worth $6,999,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRU. Money Concepts Capital Corp raised its stake in shares of Prudential Financial by 23.7% in the 1st quarter. Money Concepts Capital Corp now owns 15,537 shares of the financial services provider's stock valued at $1,518,000 after buying an additional 2,973 shares in the last quarter. Resona Asset Management Co. Ltd. increased its stake in Prudential Financial by 2.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 111,228 shares of the financial services provider's stock valued at $10,799,000 after acquiring an additional 2,393 shares during the period. Seelaus Asset Management LLC raised its position in Prudential Financial by 5.4% in the first quarter. Seelaus Asset Management LLC now owns 7,586 shares of the financial services provider's stock worth $741,000 after purchasing an additional 392 shares in the last quarter. Burney Co. lifted its stake in Prudential Financial by 83.8% during the first quarter. Burney Co. now owns 25,166 shares of the financial services provider's stock worth $2,458,000 after purchasing an additional 11,472 shares during the period. Finally, Unison Advisors LLC boosted its holdings in Prudential Financial by 1.1% during the first quarter. Unison Advisors LLC now owns 36,551 shares of the financial services provider's stock valued at $3,571,000 after purchasing an additional 414 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PRU has been the subject of several analyst reports. Bank of America cut their target price on Prudential Financial from $112.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Zacks Research upgraded Prudential Financial from a "strong sell" rating to a "hold" rating in a research note on Friday, June 12th. Keefe, Bruyette & Woods lifted their price objective on Prudential Financial from $106.00 to $113.00 and gave the company a "market perform" rating in a report on Monday. UBS Group lowered their target price on shares of Prudential Financial from $105.00 to $98.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Finally, Jefferies Financial Group increased their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Eleven investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $104.58.

Prudential Financial Trading Down 1.0%

Shares of PRU opened at $114.97 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $39.89 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 2.11 and a beta of 0.85. The stock has a fifty day moving average price of $106.24 and a two-hundred day moving average price of $104.04. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $119.76.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The company had revenue of $15.23 billion for the quarter, compared to analysts' expectations of $14.10 billion. During the same quarter in the prior year, the business earned $3.29 earnings per share. Analysts predict that Prudential Financial, Inc. will post 13.82 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.9%. The ex-dividend date was Tuesday, May 26th. Prudential Financial's dividend payout ratio (DPR) is presently 57.61%.

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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