Allen Mooney & Barnes Investment Advisors LLC Grows Holdings in Prudential Financial, Inc. (NYSE:PRU)

Allen Mooney & Barnes Investment Advisors LLC grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 98,819 shares of the financial services provider’s stock after buying an additional 2,295 shares during the quarter. Prudential Financial accounts for 1.8% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 28th biggest position. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Prudential Financial were worth $11,036,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $29,000. Wingate Wealth Advisors Inc. bought a new position in Prudential Financial in the 4th quarter valued at $33,000. Hopwood Financial Services Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter valued at $34,000. Lee Danner & Bass Inc. bought a new stake in shares of Prudential Financial during the 4th quarter worth $35,000. Finally, TCTC Holdings LLC bought a new stake in shares of Prudential Financial during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PRU shares. UBS Group reduced their price target on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, May 27th. Barclays reduced their target price on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. decreased their target price on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price target on Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a research report on Sunday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average target price of $120.15.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was bought at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the purchase, the insider now owns 139,987 shares of the company’s stock, valued at approximately $3,992,429.24. This trade represents a 60.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $104.63 on Thursday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $102.69 and its two-hundred day moving average price is $111.51. The stock has a market cap of $37.04 billion, a P/E ratio of 14.01, a PEG ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same quarter in the prior year, the firm earned $3.12 EPS. The business’s revenue for the quarter was down 38.2% compared to the same quarter last year. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.16%. Prudential Financial’s payout ratio is 85.58%.

Prudential Financial Company 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.