LVW Advisors LLC Buys 1,441 Shares of Prudential Financial, Inc. (NYSE:PRU)

LVW Advisors LLC raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 64.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,665 shares of the financial services provider’s stock after acquiring an additional 1,441 shares during the quarter. LVW Advisors LLC’s holdings in Prudential Financial were worth $430,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cambridge Trust Co. grew its stake in Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after buying an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Prudential Financial in the 4th quarter valued at $26,000. Headinvest LLC acquired a new position in Prudential Financial in the third quarter worth $27,000. Arlington Trust Co LLC grew its holdings in shares of Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of Prudential Financial in the first quarter valued at $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.3 %

NYSE PRU opened at $117.53 on Tuesday. Prudential Financial, Inc. has a one year low of $87.57 and a one year high of $121.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $42.19 billion, a P/E ratio of 19.99, a P/E/G ratio of 0.88 and a beta of 1.34. The stock’s 50-day moving average is $116.38 and its 200-day moving average is $110.96.

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

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio is 88.44%.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Robert Falzon sold 130,092 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PRU. Piper Sandler decreased their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Morgan Stanley upped their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Jefferies Financial Group lowered their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday. Evercore ISI upped their price target on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company lifted their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and an average price target of $115.08.

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.