Octavia Wealth Advisors LLC Has $1.54 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Octavia Wealth Advisors LLC lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,838 shares of the financial services provider’s stock after selling 306 shares during the period. Octavia Wealth Advisors LLC’s holdings in Prudential Financial were worth $1,539,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC increased its holdings in Prudential Financial by 104,987.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,450,633 shares of the financial services provider’s stock worth $243,740,000 after purchasing an additional 2,448,301 shares in the last quarter. Norges Bank acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $172,363,000. International Assets Investment Management LLC increased its stake in shares of Prudential Financial by 9,281.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock valued at $141,962,000 after buying an additional 1,354,248 shares during the period. Cowa LLC increased its stake in shares of Prudential Financial by 9,930.2% in the first quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock valued at $912,000 after buying an additional 764,129 shares during the period. Finally, Mariner LLC increased its stake in shares of Prudential Financial by 2,197.4% in the first quarter. Mariner LLC now owns 690,184 shares of the financial services provider’s stock valued at $81,560,000 after buying an additional 660,142 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.5 %

NYSE:PRU traded down $0.56 on Tuesday, hitting $107.80. The stock had a trading volume of 392,566 shares, compared to its average volume of 1,521,110. The business’s fifty day moving average is $111.15 and its 200 day moving average is $102.78. The company has a market cap of $38.70 billion, a PE ratio of 16.20, a P/E/G ratio of 0.74 and a beta of 1.37. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 52 week low of $77.22 and a 52 week high of $118.69.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). The firm had revenue of $13.02 billion during the quarter, compared to the consensus estimate of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.42 EPS. On average, equities research analysts expect that Prudential Financial, Inc. will post 13.4 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend was Friday, February 16th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio (DPR) is currently 77.73%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. UBS Group increased their price target on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Evercore ISI increased their price target on Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a research note on Thursday, April 11th. Raymond James lowered Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Finally, Morgan Stanley upped their target price on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $111.33.

Insider Activity

In other news, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares in the company, valued at $883,805.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares in the company, valued at $883,805.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The disclosure for this sale can be found here. Insiders have sold 29,255 shares of company stock worth $3,215,664 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Prudential Financial 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.