Wealthcare Advisory Partners LLC lowered its position in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 23.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,339 shares of the financial services provider’s stock after selling 1,354 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Prudential Financial were worth $485,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PRU. Brighton Jones LLC raised its position in Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 133 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Prudential Financial by 18.9% in the 4th quarter. Empowered Funds LLC now owns 13,556 shares of the financial services provider’s stock valued at $1,607,000 after buying an additional 2,152 shares during the period. Savant Capital LLC grew its holdings in shares of Prudential Financial by 0.6% in the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,705,000 after buying an additional 83 shares during the period. Essex Financial Services Inc. lifted its position in Prudential Financial by 24.5% in the 4th quarter. Essex Financial Services Inc. now owns 2,233 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 439 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Prudential Financial by 4.3% in the 4th quarter. Van ECK Associates Corp now owns 18,364 shares of the financial services provider’s stock valued at $2,177,000 after acquiring an additional 764 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.
Prudential Financial Price Performance
PRU stock opened at $102.88 on Friday. The firm has a market cap of $36.42 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.98 and a beta of 1.07. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company’s fifty day simple moving average is $103.03 and its 200 day simple moving average is $111.17.
Prudential Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.25%. The ex-dividend date was Tuesday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is currently 85.58%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on PRU shares. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a report on Wednesday, May 7th. Piper Sandler decreased their price target on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Wall Street Zen lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a research note on Sunday, June 8th. Finally, UBS Group lowered their target price on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $120.15.
Check Out Our Latest Research Report on Prudential Financial
Insider Buying and Selling at Prudential Financial
In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the transaction, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. The trade was a 60.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.
About Prudential Financial
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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