Etesian Wealth Advisors Inc. Has $596,000 Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Etesian Wealth Advisors Inc. reduced its holdings in Prudential Financial, Inc. (NYSE:PRU) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,336 shares of the financial services provider’s stock after selling 745 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Prudential Financial were worth $596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tepp RIA LLC acquired a new stake in Prudential Financial in the 1st quarter valued at about $345,000. Perigon Wealth Management LLC grew its stake in shares of Prudential Financial by 666.2% during the first quarter. Perigon Wealth Management LLC now owns 41,797 shares of the financial services provider’s stock valued at $4,668,000 after purchasing an additional 36,342 shares during the last quarter. Tyche Wealth Partners LLC increased its holdings in shares of Prudential Financial by 7.4% in the first quarter. Tyche Wealth Partners LLC now owns 5,296 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 363 shares in the last quarter. Alpine Bank Wealth Management bought a new position in Prudential Financial in the 1st quarter worth approximately $65,000. Finally, Golden State Wealth Management LLC lifted its holdings in Prudential Financial by 1,652.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,787 shares of the financial services provider’s stock worth $200,000 after buying an additional 1,685 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the acquisition, the insider now owns 3,168,461 shares in the company, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Trading Up 1.3%

PRU opened at $106.88 on Friday. The firm’s fifty day moving average is $103.94 and its two-hundred day moving average is $109.78. The firm has a market cap of $37.84 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month 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 quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter last year, the business posted $3.12 EPS. The firm’s revenue was down 38.2% compared to the same quarter last year. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.05%. Prudential Financial’s payout ratio is 85.58%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company raised their price target on Prudential Financial from $108.00 to $113.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. UBS Group lowered their price objective on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods cut their target price on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley raised their target price on shares of Prudential Financial from $108.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $120.15.

Prudential Financial 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.