Avidian Wealth Enterprises LLC Raises Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Avidian Wealth Enterprises LLC lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,357 shares of the financial services provider’s stock after purchasing an additional 89 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Prudential Financial were worth $891,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Creekmur Asset Management LLC lifted its holdings in Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after buying an additional 108 shares during the period. Lynx Investment Advisory bought a new position in shares of Prudential Financial in the 2nd quarter worth approximately $29,000. Strategic Financial Concepts LLC boosted its position in shares of Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 25,027 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Prudential Financial in the first quarter worth $33,000. Finally, ESL Trust Services LLC bought a new position in Prudential Financial in the first quarter worth $34,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

NYSE PRU opened at $127.73 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $45.47 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.86 and a beta of 1.29. The stock has a 50-day moving average of $121.38 and a 200 day moving average of $118.62. Prudential Financial, Inc. has a one year low of $89.90 and a one year high of $129.13.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the previous year, the company earned $3.44 earnings per share. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 13.32 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRU. Bank of America boosted their target price 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. UBS Group upped their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Barclays lifted their target price on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Citigroup raised their price objective on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, TD Cowen assumed coverage on Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $123.85.

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.