Retirement Wealth Solutions LLC Invests $37,000 in Prudential Financial, Inc. (NYSE:PRU)

Retirement Wealth Solutions LLC purchased a new position in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 327 shares of the financial services provider’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC boosted its stake in shares of Prudential Financial by 1.2% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 89 shares during the period. Daymark Wealth Partners LLC boosted its position in shares of Prudential Financial by 3.9% during the third quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after buying an additional 97 shares during the period. UMB Bank n.a. grew its stake in shares of Prudential Financial by 2.7% during the third quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock valued at $443,000 after buying an additional 97 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in shares of Prudential Financial by 2.7% during the 3rd quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 97 shares during the last quarter. Finally, Hardy Reed LLC boosted its holdings in Prudential Financial by 1.6% during the 3rd quarter. Hardy Reed LLC now owns 6,202 shares of the financial services provider’s stock valued at $751,000 after acquiring an additional 98 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PRU. Barclays decreased their target price on Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating for the company in a research report on Friday. Bank of America lifted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research note on Thursday. Jefferies Financial Group upped their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, TD Cowen upped their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $127.25.

Prudential Financial Stock Up 0.5 %

Shares of PRU opened at $118.98 on Friday. The company has a market capitalization of $42.36 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 0.75 and a beta of 1.31. Prudential Financial, Inc. has a 52 week low of $100.60 and a 52 week high of $130.55. The stock’s 50-day moving average price is $122.12 and its 200-day moving average price is $120.65. 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 (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the firm posted $3.44 EPS. On average, sell-side analysts predict that Prudential Financial, Inc. will post 13.34 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.37%. Prudential Financial’s payout ratio is 46.22%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

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.