Prudential Financial, Inc. $PRU Shares Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 10.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,150 shares of the financial services provider’s stock after purchasing an additional 1,555 shares during the quarter. CreativeOne Wealth LLC’s holdings in Prudential Financial were worth $1,843,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 111 shares during the last quarter. Cheviot Value Management LLC bought a new position in shares of Prudential Financial during the first quarter worth about $26,000. AlphaQuest LLC grew its stake in Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 245 shares in the last quarter. Clearstead Trust LLC increased its holdings in Prudential Financial by 350.8% in the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after buying an additional 207 shares during the last quarter. Finally, AlphaCore Capital LLC acquired a new stake in Prudential Financial during the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Charles F. Lowrey sold 48,164 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the transaction, the chairman directly owned 165,564 shares in the company, valued at $17,779,917.96. This trade represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is currently owned by company insiders.

Prudential Financial Trading Down 0.3%

Prudential Financial stock opened at $108.02 on Thursday. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $37.81 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.88 and a beta of 1.05. The firm has a 50-day moving average price of $103.75 and a two-hundred day moving average price of $104.85.

Prudential Financial (NYSE:PRU) last released 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 return on equity of 16.98% and a net margin of 4.65%.The company had revenue of $8.35 billion for the quarter. Sell-side 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 will be paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $5.40 annualized dividend and a dividend yield of 5.0%. Prudential Financial’s dividend payout ratio is presently 74.18%.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research analyst reports. Evercore ISI boosted their price target on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. Keefe, Bruyette & Woods boosted their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Wolfe Research assumed coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a research report on Tuesday. Finally, Barclays cut their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. One research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $119.50.

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.