Prudential Financial, Inc. (NYSE:PRU) Stock Position Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 46.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,265 shares of the financial services provider's stock after acquiring an additional 24,682 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Prudential Financial were worth $9,158,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Siemens Fonds Invest GmbH lifted its holdings in shares of Prudential Financial by 3.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 3,954 shares of the financial services provider's stock worth $467,000 after purchasing an additional 143 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Prudential Financial during the fourth quarter worth $25,796,000. REAP Financial Group LLC lifted its holdings in shares of Prudential Financial by 70.6% during the fourth quarter. REAP Financial Group LLC now owns 394 shares of the financial services provider's stock worth $47,000 after purchasing an additional 163 shares during the period. LifeWealth Investments LLC acquired a new stake in shares of Prudential Financial during the fourth quarter worth $275,000. Finally, Armis Advisers LLC acquired a new stake in shares of Prudential Financial during the fourth quarter worth $223,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Barclays reduced their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, May 31st. JPMorgan Chase & Co. reduced their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Piper Sandler cut their price target 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. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $120.15.

Prudential Financial Price Performance

PRU stock traded down $0.07 during trading on Thursday, hitting $103.71. The stock had a trading volume of 181,433 shares, compared to its average volume of 1,637,290. The company's 50 day moving average price is $102.92 and its two-hundred day moving average price is $112.24. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The stock has a market cap of $36.71 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth 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.

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 for the quarter, beating the consensus estimate of $3.18 by $0.11. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The firm's revenue for the quarter was down 38.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.12 EPS. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial's payout ratio is currently 85.58%.

Insider Transactions at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This represents a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the transaction, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company's stock.

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.