LifeWealth Investments LLC Acquires 951 Shares of Prudential Financial, Inc. $PRU

LifeWealth Investments LLC boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 26.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,495 shares of the financial services provider’s stock after purchasing an additional 951 shares during the period. LifeWealth Investments LLC’s holdings in Prudential Financial were worth $483,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Prudential Financial during the 1st quarter worth approximately $90,010,000. Goldman Sachs Group Inc. grew its holdings in Prudential Financial by 19.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock valued at $469,777,000 after purchasing an additional 678,028 shares during the period. Nordea Investment Management AB grew its holdings in Prudential Financial by 49.2% during the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after purchasing an additional 567,571 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Prudential Financial during the second quarter valued at approximately $28,579,000. Finally, Amundi grew its holdings in Prudential Financial by 14.1% during the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after purchasing an additional 216,119 shares during the period. 56.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PRU. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Piper Sandler cut their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Wells Fargo & Company cut their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 16th. Barclays cut their price target on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Finally, Wolfe Research assumed coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $122.27.

Prudential Financial Price Performance

NYSE:PRU opened at $102.05 on Thursday. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a market cap of $35.92 billion, a P/E ratio of 22.63, a P/E/G ratio of 0.90 and a beta of 1.04. The firm’s fifty day moving average price is $104.86 and its two-hundred day moving average price is $104.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $8.35 billion for the quarter. Equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.3%. Prudential Financial’s dividend payout ratio is 119.73%.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

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.