Good Life Advisors LLC Acquires 9,127 Shares of Prudential Financial, Inc. (NYSE:PRU)

Good Life Advisors LLC increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 189.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,945 shares of the financial services provider’s stock after buying an additional 9,127 shares during the quarter. Good Life Advisors LLC’s holdings in Prudential Financial were worth $1,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. HBK Sorce Advisory LLC raised its stake in shares of Prudential Financial by 1.0% during the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock valued at $1,116,000 after purchasing an additional 91 shares during the period. Altman Advisors Inc. raised its stake in shares of Prudential Financial by 0.6% during the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider’s stock valued at $1,907,000 after purchasing an additional 94 shares during the period. Brown Brothers Harriman & Co. raised its stake in shares of Prudential Financial by 7.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,506 shares of the financial services provider’s stock valued at $179,000 after purchasing an additional 98 shares during the period. SPC Financial Inc. raised its stake in shares of Prudential Financial by 2.7% during the 4th quarter. SPC Financial Inc. now owns 3,873 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 100 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its stake in shares of Prudential Financial by 3.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 101 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company upped their target price on Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Morgan Stanley upped their target price on 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 decreased their target price on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. decreased their target price on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $120.15.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was bought at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the acquisition, the insider now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

Prudential Financial Price Performance

PRU opened at $104.90 on Tuesday. The stock has a 50-day moving average price of $103.23 and a 200-day moving average price of $110.74. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $37.13 billion, a P/E ratio of 14.04, a PEG ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $14.76 billion. During the same period in the prior year, the business earned $3.12 EPS. The company’s revenue for the quarter was down 38.2% compared to the same quarter last year. Equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial’s payout ratio is currently 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.