IHT Wealth Management LLC Has $586,000 Position in Prudential Financial, Inc. (NYSE:PRU)

IHT Wealth Management LLC raised its position in shares of Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 34.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,827 shares of the financial services provider’s stock after purchasing an additional 1,741 shares during the quarter. IHT Wealth Management LLC’s holdings in Prudential Financial were worth $586,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wagner Wealth Management LLC acquired a new position in shares of Prudential Financial in the second quarter worth $26,000. Pacific Center for Financial Services acquired a new position in shares of Prudential Financial in the second quarter worth $31,000. Exos TFP Holdings LLC acquired a new position in shares of Prudential Financial in the third quarter worth $36,000. Fairfield Bush & CO. acquired a new position in shares of Prudential Financial in the first quarter worth $36,000. Finally, Tsfg LLC increased its stake in shares of Prudential Financial by 45.7% in the third quarter. Tsfg LLC now owns 459 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 144 shares during the last quarter. 56.33% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Down 5.1 %

Prudential Financial stock opened at $78.02 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.07 and a current ratio of 0.07. The business’s 50-day simple moving average is $98.36 and its 200-day simple moving average is $98.88. The firm has a market capitalization of $28.56 billion, a PE ratio of -19.80, a PEG ratio of 0.52 and a beta of 1.41. Prudential Financial, Inc. has a 52 week low of $76.90 and a 52 week high of $122.54.

Prudential Financial (NYSE:PRU – Get Rating) last released its earnings results on Tuesday, February 7th. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.15). Prudential Financial had a positive return on equity of 13.31% and a negative net margin of 2.33%. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same period last year, the business earned $3.18 earnings per share. Equities research analysts forecast that Prudential Financial, Inc. will post 12.2 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Tuesday, February 21st were given a dividend of $1.25 per share. The ex-dividend date was Friday, February 17th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 6.41%. Prudential Financial’s dividend payout ratio (DPR) is -126.90%.

Prudential Financial announced that its board has authorized a share repurchase plan on Tuesday, February 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PRU shares. Morgan Stanley upped their price target on shares of Prudential Financial from $112.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th. JPMorgan Chase & Co. cut their target price on Prudential Financial from $118.00 to $114.00 and set a “neutral” rating on the stock in a report on Wednesday, February 8th. Barclays cut their target price on Prudential Financial from $106.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 10th. Wells Fargo & Company raised their target price on Prudential Financial from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Monday, February 13th. Finally, StockNews.com initiated coverage on Prudential Financial in a report on Thursday. They set a “hold” rating on the stock. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $103.00.

Insider Buying and Selling

In related news, EVP Andrew F. Sullivan sold 4,126 shares of Prudential Financial stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $99.20, for a total transaction of $409,299.20. Following the sale, the executive vice president now directly owns 12,241 shares of the company’s stock, valued at $1,214,307.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Prudential Financial news, EVP Andrew F. Sullivan sold 11,405 shares of Prudential Financial stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $100.95, for a total transaction of $1,151,334.75. Following the sale, the executive vice president now directly owns 12,300 shares of the company’s stock, valued at $1,241,685. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 4,126 shares of Prudential Financial stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $99.20, for a total value of $409,299.20. Following the sale, the executive vice president now directly owns 12,241 shares in the company, valued at $1,214,307.20. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Profile

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Prudential Financial, Inc engages in the provision of insurance, investment management, and other financial products and services to both individual and institutional customers. It operates through the following segments: PGIM, U.S. Businesses, International Businesses, Closed Block, and Corporate and Others.