Sound Income Strategies LLC Acquires 3,787 Shares of Prudential Financial, Inc. (NYSE:PRU)

Sound Income Strategies LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 13.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,495 shares of the financial services provider’s stock after acquiring an additional 3,787 shares during the period. Sound Income Strategies LLC’s holdings in Prudential Financial were worth $3,852,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Grove Bank & Trust raised its position in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial during the third quarter worth $31,000. Quarry LP lifted its stake in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 222 shares during the period. Retirement Wealth Solutions LLC bought a new position in Prudential Financial in the fourth quarter valued at about $37,000. Finally, Tompkins Financial Corp raised its holdings in Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Prudential Financial stock opened at $116.75 on Friday. The company has a market capitalization of $41.56 billion, a P/E ratio of 10.38, a P/E/G ratio of 1.09 and a beta of 1.31. The business has a 50 day moving average of $121.68 and a 200-day moving average of $120.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial, Inc. has a 1 year low of $100.60 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion during 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 period last year, the company posted $3.44 EPS. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.24 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders 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 dividend yield of 4.45%. Prudential Financial’s dividend payout ratio is presently 46.22%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PRU shares. Bank of America boosted their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. TD Cowen increased their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Wells Fargo & Company cut their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday, January 16th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $125.31.

Insider Activity

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 purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is currently 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.