San Luis Wealth Advisors LLC Invests $597,000 in Prudential Financial, Inc. (NYSE:PRU)

San Luis Wealth Advisors LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,348 shares of the financial services provider's stock, valued at approximately $597,000.

A number of other hedge funds have also bought and sold shares of PRU. Brighton Jones LLC increased its position in Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock worth $436,000 after acquiring an additional 133 shares during the period. Van ECK Associates Corp increased its holdings in Prudential Financial by 4.3% in the 4th quarter. Van ECK Associates Corp now owns 18,364 shares of the financial services provider's stock valued at $2,177,000 after buying an additional 764 shares during the period. Montag A & Associates Inc. increased its holdings in Prudential Financial by 39.5% in the 4th quarter. Montag A & Associates Inc. now owns 1,325 shares of the financial services provider's stock valued at $157,000 after buying an additional 375 shares during the period. Everhart Financial Group Inc. increased its holdings in Prudential Financial by 3.0% in the 4th quarter. Everhart Financial Group Inc. now owns 5,084 shares of the financial services provider's stock valued at $603,000 after buying an additional 149 shares during the period. Finally, Principal Securities Inc. increased its holdings in Prudential Financial by 5.6% in the 4th quarter. Principal Securities Inc. now owns 14,593 shares of the financial services provider's stock valued at $1,730,000 after buying an additional 770 shares during the period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Up 1.9%

NYSE:PRU opened at $104.90 on Tuesday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The stock has a market capitalization of $37.13 billion, a P/E ratio of 14.04, a P/E/G ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The company's 50-day simple moving average is $103.23 and its 200-day simple moving average is $110.74.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. The firm's revenue was down 38.2% compared to the same quarter last year. On average, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.15%. Prudential Financial's payout ratio is 85.58%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a research report on Monday. Morgan Stanley boosted their price target on shares of Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods dropped their target price on shares of 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. Finally, Piper Sandler decreased their price target on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of "Hold" and a consensus price target of $120.15.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the transaction, the insider now directly owns 139,987 shares of the company's stock, valued at $3,992,429.24. This represents a 60.18% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.25% of the company's stock.

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.

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.