Avior Wealth Management LLC Raises Position in Prudential Financial, Inc. (NYSE:PRU)

Avior Wealth Management LLC boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,250 shares of the financial services provider’s stock after buying an additional 124 shares during the quarter. Avior Wealth Management LLC’s holdings in Prudential Financial were worth $978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust lifted its stake 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 in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 89 shares in the last quarter. Daymark Wealth Partners LLC lifted its stake in Prudential Financial by 3.9% in the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 97 shares in the last quarter. UMB Bank n.a. lifted its stake in Prudential Financial by 2.7% in the 3rd quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 97 shares in the last quarter. Finally, Pure Financial Advisors LLC lifted its stake in Prudential Financial by 2.7% in the 3rd quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 97 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of research reports. Bank of America raised their target price 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. Piper Sandler cut their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays raised their price target on shares of Prudential Financial from $127.00 to $128.00 and gave the stock an “equal weight” rating in a report on Thursday. Wells Fargo & Company cut their price target on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the stock from $117.00 to $140.00 in a report 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $125.31.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Performance

Shares of PRU stock opened at $117.22 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 52 week low of $100.60 and a 52 week high of $130.55. The stock has a market capitalization of $41.73 billion, a PE ratio of 10.42, a P/E/G ratio of 1.09 and a beta of 1.31. The firm has a 50 day moving average of $121.50 and a two-hundred day moving average of $120.66.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS 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 company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the company posted $3.44 EPS. On average, research analysts predict that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.44%. Prudential Financial’s dividend payout ratio is presently 46.22%.

About Prudential Financial

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.