Regal Investment Advisors LLC Purchases 7,601 Shares of Prudential Financial, Inc. (NYSE:PRU)

Regal Investment Advisors LLC increased its position in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 229.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,911 shares of the financial services provider’s stock after purchasing an additional 7,601 shares during the period. Regal Investment Advisors LLC’s holdings in Prudential Financial were worth $1,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elo Mutual Pension Insurance Co grew its stake in Prudential Financial by 3.4% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 31,693 shares of the financial services provider’s stock valued at $3,287,000 after acquiring an additional 1,049 shares in the last quarter. Ossiam grew its stake in shares of Prudential Financial by 34.1% in the 4th quarter. Ossiam now owns 18,966 shares of the financial services provider’s stock worth $1,967,000 after buying an additional 4,823 shares in the last quarter. Security National Bank purchased a new position in shares of Prudential Financial in the 4th quarter worth $41,000. Sompo Asset Management Co. Ltd. grew its stake in shares of Prudential Financial by 31.8% in the 4th quarter. Sompo Asset Management Co. Ltd. now owns 13,100 shares of the financial services provider’s stock worth $1,359,000 after buying an additional 3,160 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Prudential Financial by 387.6% during the 4th quarter. Schroder Investment Management Group now owns 332,421 shares of the financial services provider’s stock worth $34,475,000 after purchasing an additional 264,247 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Down 0.4 %

Shares of Prudential Financial stock opened at $117.37 on Tuesday. The firm’s 50 day moving average price is $115.26 and its 200-day moving average price is $109.24. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a 52-week low of $83.34 and a 52-week high of $121.39. The company has a market cap of $42.14 billion, a P/E ratio of 19.96, a PEG ratio of 0.88 and a beta of 1.35.

Prudential Financial (NYSE:PRUGet Free Report) last released its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm’s revenue for the quarter was up 69.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.66 EPS. On average, sell-side analysts predict that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Monday, May 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the sale, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

PRU has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI lifted 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. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Piper Sandler decreased their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $115.25.

Get Our Latest Report on PRU

Prudential Financial Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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