Wealth Enhancement Advisory Services LLC Buys 24,682 Shares of Prudential Financial, Inc. (NYSE:PRU)

Wealth Enhancement Advisory Services LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 46.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,265 shares of the financial services provider’s stock after purchasing an additional 24,682 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Prudential Financial were worth $9,158,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial in the 4th quarter worth about $29,000. CGC Financial Services LLC increased its stake in shares of Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Prudential Financial in the 4th quarter worth about $33,000. Hopwood Financial Services Inc. bought a new position in shares of Prudential Financial in the 4th quarter worth about $34,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Prudential Financial in the 4th quarter worth about $35,000. 56.83% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was acquired at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the acquisition, the insider now owns 139,987 shares of the company’s stock, valued at $3,992,429.24. The trade was a 60.18% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PRU shares. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. decreased their price target on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley increased their price target on shares of Prudential Financial from $108.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. UBS Group reduced their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $120.15.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $103.84 on Monday. The firm’s 50-day moving average price is $103.48 and its 200-day moving average price is $112.52. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market cap of $36.76 billion, a PE ratio of 13.90, a PEG ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. The firm had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The business’s quarterly revenue was down 38.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.12 EPS. As a group, analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial’s payout ratio is presently 85.58%.

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.