Kingsview Wealth Management LLC Purchases 237 Shares of Prudential Financial, Inc. (NYSE:PRU)

Kingsview Wealth Management LLC raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,012 shares of the financial services provider’s stock after acquiring an additional 237 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Prudential Financial were worth $849,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in Prudential Financial by 0.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 498,247 shares of the financial services provider’s stock worth $58,495,000 after purchasing an additional 2,001 shares during the period. Bayesian Capital Management LP bought a new position in shares of Prudential Financial during the 1st quarter valued at approximately $247,000. Janus Henderson Group PLC grew its stake in shares of Prudential Financial by 49.5% in the 1st quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock worth $9,409,000 after buying an additional 26,520 shares in the last quarter. Tidal Investments LLC grew its position in Prudential Financial by 35.5% in the first quarter. Tidal Investments LLC now owns 19,524 shares of the financial services provider’s stock worth $2,292,000 after acquiring an additional 5,111 shares in the last quarter. Finally, Comerica Bank lifted its stake in shares of Prudential Financial by 28.2% in the 1st quarter. Comerica Bank now owns 100,035 shares of the financial services provider’s stock valued at $11,744,000 after purchasing an additional 22,017 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PRU shares. TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday. Morgan Stanley dropped their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Wells Fargo & Company boosted their target price on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Bank of America boosted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Eleven investment analysts have rated the stock with 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.com, the company presently has an average rating of “Hold” and a consensus price target of $125.92.

Insider Buying and Selling

In related news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Prudential Financial Price Performance

Shares of PRU opened at $129.52 on Thursday. The company has a 50 day moving average of $123.93 and a two-hundred day moving average of $119.96. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a twelve month low of $95.10 and a twelve month high of $130.55. The company has a market cap of $46.11 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the firm earned $3.44 EPS. As a group, analysts predict that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.01%. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

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.