LifeWealth Investments LLC Has $483,000 Holdings in Prudential Financial, Inc. $PRU

LifeWealth Investments LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 26.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,495 shares of the financial services provider’s stock after purchasing an additional 951 shares during the quarter. LifeWealth Investments LLC’s holdings in Prudential Financial were worth $483,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Proffitt & Goodson Inc. increased its position in shares of Prudential Financial by 12.7% during the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock worth $94,000 after buying an additional 98 shares during the period. SPC Financial Inc. grew its position in shares of Prudential Financial by 2.6% during the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock worth $444,000 after buying an additional 100 shares during the period. Thrive Wealth Management LLC grew its position in shares of Prudential Financial by 2.6% during the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock worth $430,000 after buying an additional 101 shares during the period. Eagle Capital Management LLC grew its position in shares of Prudential Financial by 0.3% during the 2nd quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock worth $3,847,000 after buying an additional 108 shares during the period. Finally, Principle Wealth Partners LLC grew its position in shares of Prudential Financial by 0.3% during the 1st quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider’s stock worth $4,723,000 after buying an additional 109 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $102.05 on Thursday. The company’s 50-day moving average is $104.86 and its 200 day moving average is $104.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $35.92 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55.

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

Prudential Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

PRU has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Wolfe Research assumed coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Wells Fargo & Company decreased their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Barclays decreased their price target on shares of 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. Finally, Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $122.27.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

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.