FORM Wealth Advisors LLC Acquires Shares of 3,819 Prudential Financial, Inc. (NYSE:PRU)

FORM Wealth Advisors LLC acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the 1st quarter, Holdings Channel.com reports. The fund acquired 3,819 shares of the financial services provider’s stock, valued at approximately $427,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PRU. Opal Wealth Advisors LLC bought a new position in shares of Prudential Financial in the 1st quarter valued at about $30,000. Hopwood Financial Services Inc. bought a new position in shares of Prudential Financial in the 4th quarter valued at about $34,000. Lee Danner & Bass Inc. bought a new position in shares of Prudential Financial in the 4th quarter valued at about $35,000. TCTC Holdings LLC bought a new position in shares of Prudential Financial in the 4th quarter valued at about $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Prudential Financial in the 4th quarter valued at about $38,000. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

PRU has been the subject of a number of analyst reports. Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Monday, June 16th. JPMorgan Chase & Co. lowered their price target on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. UBS Group decreased 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. Barclays decreased their price objective on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Finally, Morgan Stanley raised their price objective 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $120.15.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $105.74 on Tuesday. The firm has a market cap of $37.43 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.00 and a beta of 1.07. The firm’s 50 day simple moving average is $103.53 and its 200-day simple moving average is $109.94. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.17 and a current ratio of 0.17.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The company’s quarterly revenue was down 38.2% compared to the same quarter last year. During the same period last year, the company posted $3.12 earnings per share. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial’s payout ratio is 85.58%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the acquisition, the insider now directly owns 3,168,461 shares in the company, valued at $90,744,723.04. This represents a 112.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Prudential Financial Company 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.