Kingsview Wealth Management LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 125.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,943 shares of the financial services provider’s stock after acquiring an additional 7,746 shares during the period. Kingsview Wealth Management LLC’s holdings in Prudential Financial were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of PRU. Brighton Jones LLC boosted its stake in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 133 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Prudential Financial by 30.5% in the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after buying an additional 4,134 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Prudential Financial by 3.5% in the second quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock valued at $447,000 after buying an additional 140 shares during the last quarter. AXA S.A. raised its holdings in shares of Prudential Financial by 25.8% in the second quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock valued at $6,092,000 after buying an additional 11,630 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Prudential Financial by 15.1% in the second quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock valued at $4,005,000 after buying an additional 4,895 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on PRU shares. Morgan Stanley reaffirmed an “underweight” rating and issued a $92.00 target price (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. UBS Group reduced their target price on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. BMO Capital Markets reduced their target price on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a report on Thursday, April 23rd. Wells Fargo & Company upped their target price on shares of Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Finally, Evercore reaffirmed a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Nine equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $101.50.
Prudential Financial Trading Down 0.0%
Shares of Prudential Financial stock opened at $100.61 on Monday. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market cap of $34.91 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 1.84 and a beta of 0.86. The company has a 50-day moving average of $98.69 and a two-hundred day moving average of $104.45.
Prudential Financial (NYSE:PRU – Get Free Report) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The company had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. During the same period last year, the company posted $3.29 earnings per share. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.75 EPS for the current fiscal year.
Prudential Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th will be given a $1.40 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 5.6%. Prudential Financial’s dividend payout ratio is currently 57.61%.
Prudential Financial Profile
Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.
Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.
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