AlphaCore Capital LLC Makes New Investment in Prudential Financial, Inc. $PRU

AlphaCore Capital LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, Holdings Channel.com reports. The firm purchased 6,280 shares of the financial services provider’s stock, valued at approximately $709,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sunflower Bank N.A. boosted its holdings in shares of Prudential Financial by 3.2% during the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock worth $329,000 after buying an additional 91 shares in the last quarter. Wetzel Investment Advisors Inc. raised its position in shares of Prudential Financial by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock worth $1,131,000 after purchasing an additional 94 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Prudential Financial by 0.3% during the third quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock worth $2,987,000 after purchasing an additional 97 shares during the period. Transcend Capital Advisors LLC raised its position in shares of Prudential Financial by 2.4% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 98 shares during the period. Finally, Mindset Wealth Management LLC raised its position in shares of Prudential Financial by 2.1% during the third quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 100 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 12th. Mizuho upped their target price on Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Jefferies Financial Group lowered Prudential Financial from a “buy” rating to a “hold” rating and lowered their target price for the stock from $124.00 to $98.00 in a research report on Wednesday, April 22nd. Piper Sandler upped their target price on Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Bank of America lowered their target price on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Nine analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $101.50.

Prudential Financial Trading Up 1.1%

NYSE PRU opened at $103.04 on Tuesday. The firm has a market capitalization of $35.76 billion, a P/E ratio of 10.60, a PEG ratio of 1.87 and a beta of 0.86. The business has a fifty day simple moving average of $97.21 and a 200 day simple moving average of $104.58. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. The business had revenue of $15.23 billion during the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same period in the prior year, the firm posted $3.29 EPS. On average, analysts predict that Prudential Financial, Inc. will post 13.71 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, May 26th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, May 26th. Prudential Financial’s dividend payout ratio is presently 57.61%.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.