Avidian Wealth Enterprises LLC Has $653,000 Position in Prudential Financial, Inc. $PRU

Avidian Wealth Enterprises LLC increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,080 shares of the financial services provider’s stock after buying an additional 262 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Prudential Financial were worth $653,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its stake in shares of Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 111 shares during the last quarter. Cheviot Value Management LLC bought a new position in Prudential Financial during the 1st quarter worth approximately $26,000. North Capital Inc. acquired a new position in shares of Prudential Financial in the 1st quarter worth approximately $28,000. AlphaQuest LLC boosted its stake in shares of Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 245 shares during the last quarter. Finally, Clearstead Trust LLC increased its position in shares of Prudential Financial by 350.8% during the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after buying an additional 207 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $101.92 on Wednesday. The business has a 50-day simple moving average of $104.96 and a 200 day simple moving average of $104.12. The firm has a market capitalization of $35.87 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 0.90 and a beta of 1.04. 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, Inc. has a one year low of $90.38 and a one year high of $130.55.

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

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 119.73%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PRU shares. Morgan Stanley boosted their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Piper Sandler dropped their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Barclays decreased their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Wolfe Research started coverage on Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company cut their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus target price of $122.27.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by insiders.

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.