Private Advisor Group LLC Has $7.14 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Private Advisor Group LLC cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,982 shares of the financial services provider’s stock after selling 3,222 shares during the period. Private Advisor Group LLC’s holdings in Prudential Financial were worth $7,143,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Prudential Financial by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 39,001 shares of the financial services provider’s stock worth $4,045,000 after acquiring an additional 337 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Prudential Financial during the 1st quarter worth about $215,000. Wealthcare Advisory Partners LLC grew its stake in shares of Prudential Financial by 57.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 8,690 shares of the financial services provider’s stock valued at $1,020,000 after buying an additional 3,179 shares in the last quarter. Cornerstone Wealth Group LLC raised its position in Prudential Financial by 3.0% during the first quarter. Cornerstone Wealth Group LLC now owns 55,169 shares of the financial services provider’s stock valued at $6,477,000 after acquiring an additional 1,596 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new stake in Prudential Financial in the first quarter worth approximately $409,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PRU shares. Jefferies Financial Group cut their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Piper Sandler lifted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America upped their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, UBS Group raised their target price on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $123.69.

Prudential Financial Stock Down 1.5 %

Prudential Financial stock opened at $123.46 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The company’s 50-day moving average is $120.03 and its 200-day moving average is $117.74. The firm has a market capitalization of $44.08 billion, a PE ratio of 15.87, a P/E/G ratio of 0.96 and a beta of 1.30. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52.

Prudential Financial (NYSE:PRU) last announced its 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). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.21%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s payout ratio is presently 66.84%.

Insider Buying and Selling

In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $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.

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.