Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC grew its position in Prudential Financial, Inc. (NYSE:PRU) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,189 shares of the financial services provider’s stock after purchasing an additional 402 shares during the period. Private Advisor Group LLC’s holdings in Prudential Financial were worth $6,450,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Lindbrook Capital LLC lifted its position in shares of Prudential Financial by 38.1% during the 3rd quarter. Lindbrook Capital LLC now owns 1,134 shares of the financial services provider’s stock valued at $108,000 after buying an additional 313 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Prudential Financial by 7.3% during the 3rd quarter. Mackenzie Financial Corp now owns 44,435 shares of the financial services provider’s stock worth $4,059,000 after purchasing an additional 3,036 shares during the last quarter. Brighton Jones LLC lifted its stake in Prudential Financial by 9.2% in the 3rd quarter. Brighton Jones LLC now owns 3,017 shares of the financial services provider’s stock valued at $286,000 after buying an additional 254 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Prudential Financial by 0.8% in the third quarter. IFM Investors Pty Ltd now owns 84,482 shares of the financial services provider’s stock valued at $8,016,000 after acquiring an additional 711 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in shares of Prudential Financial in the third quarter worth approximately $669,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Down 0.0 %

Shares of PRU stock traded down $0.03 during trading on Wednesday, reaching $116.20. The company’s stock had a trading volume of 112,102 shares, compared to its average volume of 1,510,052. The company has a market capitalization of $41.72 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 0.83 and a beta of 1.35. Prudential Financial, Inc. has a 1-year low of $77.87 and a 1-year high of $118.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s 50-day moving average price is $112.48 and its 200 day moving average price is $104.78.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. During the same quarter in the previous year, the business posted $2.66 earnings per share. The firm’s revenue was up 69.9% on a year-over-year basis. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.48%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRU. Keefe, Bruyette & Woods lifted their target price on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Morgan Stanley increased their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Company increased their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Finally, Evercore ISI upped their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $111.08.

Insider Buying and Selling

In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the sale, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the sale, the executive vice president now owns 13,691 shares in the company, valued at $1,527,504.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,255 shares of company stock worth $3,215,664. Corporate insiders own 0.34% 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.