Austin Private Wealth LLC Purchases 520 Shares of Prudential Financial, Inc. (NYSE:PRU)

Austin Private Wealth LLC increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,707 shares of the financial services provider’s stock after acquiring an additional 520 shares during the quarter. Austin Private Wealth LLC’s holdings in Prudential Financial were worth $439,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in Prudential Financial by 4.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 34,354 shares of the financial services provider’s stock valued at $4,026,000 after acquiring an additional 1,340 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Prudential Financial in the second quarter worth about $6,129,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Prudential Financial by 99.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 597 shares of the financial services provider’s stock valued at $70,000 after buying an additional 297 shares in the last quarter. AMF Tjanstepension AB raised its stake in shares of Prudential Financial by 12.5% during the 3rd quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock worth $24,642,000 after acquiring an additional 22,588 shares in the last quarter. Finally, Czech National Bank lifted its position in Prudential Financial by 6.3% during the third quarter. Czech National Bank now owns 72,724 shares of the financial services provider’s stock valued at $8,807,000 after acquiring an additional 4,313 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Prudential Financial Stock Down 1.1 %

Prudential Financial stock opened at $120.52 on Friday. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55. The stock has a market capitalization of $42.91 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The business has a 50 day simple moving average of $120.95 and a 200-day simple moving average of $120.67.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period last year, the firm posted $3.44 earnings per share. On average, analysts anticipate that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.31%. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PRU shares. Wells Fargo & Company lowered their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Bank of America boosted their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. 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, January 23rd. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus target price of $125.31.

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.