AdvisorNet Financial Inc Raises Holdings in Prudential Financial, Inc. (NYSE:PRU)

AdvisorNet Financial Inc lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 17.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,859 shares of the financial services provider’s stock after acquiring an additional 582 shares during the period. AdvisorNet Financial Inc’s holdings in Prudential Financial were worth $453,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PRU. FMR LLC boosted its position in Prudential Financial by 2.9% in the third quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after buying an additional 36,599 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Prudential Financial by 13.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,076 shares of the financial services provider’s stock valued at $577,000 after buying an additional 720 shares during the last quarter. Natixis Advisors L.P. boosted its position in Prudential Financial by 9.8% in the third quarter. Natixis Advisors L.P. now owns 97,608 shares of the financial services provider’s stock valued at $9,262,000 after buying an additional 8,687 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Prudential Financial by 80.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 22,667 shares of the financial services provider’s stock valued at $2,151,000 after buying an additional 10,102 shares during the last quarter. Finally, Mutual Advisors LLC boosted its position in Prudential Financial by 1.9% in the third quarter. Mutual Advisors LLC now owns 27,640 shares of the financial services provider’s stock valued at $2,623,000 after buying an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley boosted their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Piper Sandler decreased their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Keefe, Bruyette & Woods boosted their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Jefferies Financial Group raised Prudential Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $121.00 to $143.00 in a report on Wednesday, May 22nd. Finally, Wells Fargo & Company boosted their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average target price of $115.25.

Prudential Financial Stock Up 1.2 %

NYSE PRU opened at $119.16 on Tuesday. The business has a fifty day moving average price of $115.65 and a 200 day moving average price of $110.52. Prudential Financial, Inc. has a one year low of $84.02 and a one year high of $121.39. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $42.78 billion, a P/E ratio of 20.27, a P/E/G ratio of 0.88 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. During the same period in the prior year, the company posted $2.66 earnings per share. The firm’s revenue for the quarter was up 69.9% compared to the same quarter last year. Research analysts anticipate that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.36%. The ex-dividend date was Monday, May 20th. Prudential Financial’s payout ratio is currently 88.44%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the sale, the senior vice president now directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Timothy L. Schmidt sold 5,189 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

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.