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

Wealth Enhancement Advisory Services LLC raised its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,888 shares of the financial services provider's stock after purchasing an additional 2,623 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Prudential Financial were worth $8,922,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock valued at $436,000 after buying an additional 133 shares during the last quarter. Wealthspire Advisors LLC increased its position in Prudential Financial by 25.9% during the fourth quarter. Wealthspire Advisors LLC now owns 3,235 shares of the financial services provider's stock worth $383,000 after purchasing an additional 666 shares during the last quarter. Howard Capital Management Inc. increased its position in Prudential Financial by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 2,455 shares of the financial services provider's stock worth $291,000 after purchasing an additional 126 shares during the last quarter. Delta Financial Group Inc. acquired a new position in Prudential Financial during the fourth quarter worth approximately $369,000. Finally, Union Bancaire Privee UBP SA acquired a new position in Prudential Financial during the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on PRU. JPMorgan Chase & Co. dropped their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. UBS Group dropped their price target on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Piper Sandler dropped 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 report on Friday, May 2nd. Barclays dropped their price objective on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Finally, Morgan Stanley increased their price objective 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. 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 stock. According to data from MarketBeat, Prudential Financial presently has an average rating of "Hold" and an average price target of $120.15.

Prudential Financial Price Performance

Shares of PRU stock opened at $105.74 on Tuesday. The company has a market capitalization of $37.43 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.00 and a beta of 1.07. The firm has a fifty day simple moving average of $103.53 and a 200-day simple moving average of $109.94. The company has a current ratio of 0.17, a quick 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 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 business 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 3.84% and a return on equity of 15.84%. The business's quarterly revenue was down 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.12 earnings per share. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.11%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the transaction, the insider now owns 3,168,461 shares in the company, 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 SEC, which is accessible through this link. 0.25% of the stock is currently owned by 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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