Kiker Wealth Management LLC Buys 5,690 Shares of Prudential Financial, Inc. $PRU

Kiker Wealth Management LLC increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 3,490.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,853 shares of the financial services provider’s stock after buying an additional 5,690 shares during the quarter. Kiker Wealth Management LLC’s holdings in Prudential Financial were worth $607,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Darwin Wealth Management LLC bought a new position in Prudential Financial in the second quarter worth $36,000. AlphaCore Capital LLC bought a new stake in Prudential Financial in the 2nd quarter valued at $39,000. Capital A Wealth Management LLC raised its stake in shares of Prudential Financial by 4,600.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after buying an additional 368 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Prudential Financial during the 2nd quarter worth about $51,000. Finally, Crews Bank & Trust boosted its position in shares of Prudential Financial by 36.4% during the 2nd quarter. Crews Bank & Trust now owns 547 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 146 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Trading Down 0.3%

PRU opened at $117.76 on Tuesday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $123.88. The stock has a market capitalization of $41.22 billion, a PE ratio of 16.18, a PEG ratio of 0.94 and a beta of 0.97. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $111.27 and a two-hundred day moving average price of $106.98.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The business had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

Insider Activity

In related news, SVP Timothy L. Schmidt sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total value of $861,520.00. Following the transaction, the senior vice president owned 11,535 shares in the company, valued at $1,242,204.15. This trade represents a 40.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,719 shares of company stock valued at $6,796,067 over the last 90 days. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PRU shares. Wall Street Zen lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group upped their price target on Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Wolfe Research started coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Piper Sandler lifted their price target on shares of Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Prudential Financial in a research report on Monday, December 29th. Eleven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Prudential Financial currently has an average rating of “Reduce” and an average target price of $118.60.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.