Eagle Wealth Strategies LLC Takes Position in Prudential Financial, Inc. (NYSE:PRU)

Eagle Wealth Strategies LLC acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,796 shares of the financial services provider’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Creekmur Asset Management LLC lifted its position in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the 2nd quarter valued at $29,000. Strategic Financial Concepts LLC lifted its position in shares of Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 25,027 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Prudential Financial in the first quarter valued at $33,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Prudential Financial in the first quarter valued at $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler increased their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Barclays assumed coverage on Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price for the company. JPMorgan Chase & Co. increased their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. TD Cowen began coverage on shares of Prudential Financial in a research note on Wednesday. They issued a “hold” rating and a $130.00 price target on the stock. Finally, Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus price target of $123.92.

Prudential Financial Stock Performance

Shares of NYSE:PRU traded up $0.38 during midday trading on Wednesday, hitting $121.26. The company’s stock had a trading volume of 92,934 shares, compared to its average volume of 1,490,165. The stock has a market capitalization of $43.53 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 0.94 and a beta of 1.30. The stock’s 50 day simple moving average is $116.75 and its 200 day simple moving average is $117.02. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.29 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s payout ratio is presently 88.44%.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated 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 $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s 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 transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This represents 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 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.