Kingswood Wealth Advisors LLC Buys 3,321 Shares of Prudential Financial, Inc. (NYSE:PRU)

Kingswood Wealth Advisors LLC lifted its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 68.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,160 shares of the financial services provider's stock after purchasing an additional 3,321 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Prudential Financial were worth $911,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRU. Centricity Wealth Management LLC purchased a new position in shares of Prudential Financial in the fourth quarter worth approximately $29,000. Opal Wealth Advisors LLC purchased a new position in Prudential Financial during the 1st quarter worth approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Prudential Financial in the fourth quarter valued at $34,000. Lee Danner & Bass Inc. acquired a new stake in shares of Prudential Financial in the fourth quarter worth $35,000. Finally, TCTC Holdings LLC purchased a new position in shares of Prudential Financial during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PRU shares. Piper Sandler reduced their price objective on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. decreased their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. UBS Group lowered 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. Wells Fargo & Company increased their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Barclays lowered their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $120.15.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the business's stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the acquisition, the insider now directly owns 3,168,461 shares in the company, valued at $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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company's stock.

Prudential Financial Stock Up 0.2%

Shares of NYSE:PRU traded up $0.20 on Friday, reaching $104.31. The company had a trading volume of 2,639,210 shares, compared to its average volume of 1,653,531. The stock has a market capitalization of $36.93 billion, a P/E ratio of 16.53, a P/E/G ratio of 0.99 and a beta of 1.07. The stock has a 50-day moving average price of $103.33 and a 200 day moving average price of $110.48. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. 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 (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share 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 firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same period in the previous year, the company earned $3.12 EPS. The company's revenue for the quarter was down 38.2% on a year-over-year basis. On average, equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced 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 5.18%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

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.