Leo Wealth LLC Acquires New Stake in Prudential Financial, Inc. (NYSE:PRU)

Leo Wealth LLC purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,785 shares of the financial services provider’s stock, valued at approximately $216,000.

Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after buying an additional 305,143 shares during the period. AustralianSuper Pty Ltd lifted its stake in shares of Prudential Financial by 2.8% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock valued at $145,027,000 after purchasing an additional 34,160 shares during the period. Federated Hermes Inc. boosted its position in shares of Prudential Financial by 8.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock valued at $120,181,000 after purchasing an additional 82,620 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Prudential Financial by 7.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock worth $108,788,000 after purchasing an additional 62,578 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Prudential Financial by 97.4% in the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after buying an additional 357,300 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PRU has been the subject of several research analyst reports. Piper Sandler lifted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Barclays initiated coverage on Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price for the company. Citigroup boosted their price objective on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average price target of $123.69.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $125.16 on Thursday. The firm has a market capitalization of $44.93 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $119.79 and its 200 day simple moving average is $117.69. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, analysts anticipate that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.15%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

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.