Wealthcare Advisory Partners LLC Buys 623 Shares of Prudential Financial, Inc. (NYSE:PRU)

Wealthcare Advisory Partners LLC grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,511 shares of the financial services provider’s stock after purchasing an additional 623 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Prudential Financial were worth $572,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PRU. Choreo LLC raised its stake in Prudential Financial by 163.5% during the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after buying an additional 4,306 shares during the period. FMR LLC boosted its holdings in Prudential Financial by 2.9% in the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock worth $124,801,000 after buying an additional 36,599 shares during the period. Arvest Investments Inc. purchased a new stake in shares of Prudential Financial in the fourth quarter worth about $2,112,000. Tyche Wealth Partners LLC bought a new position in Prudential Financial in the 4th quarter valued at $815,000. Finally, Victory Capital Management Inc. boosted its stake in Prudential Financial by 14.5% during the third quarter. Victory Capital Management Inc. now owns 268,728 shares of the financial services provider’s stock valued at $25,500,000 after buying an additional 34,054 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company increased their price objective on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Piper Sandler cut their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday. Finally, UBS Group raised their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $111.08.

Prudential Financial Trading Up 0.4 %

NYSE PRU opened at $116.72 on Thursday. The stock’s fifty day moving average price is $112.48 and its 200-day moving average price is $104.78. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock has a market cap of $41.90 billion, a P/E ratio of 19.85, a P/E/G ratio of 0.83 and a beta of 1.35. Prudential Financial, Inc. has a 12 month low of $77.87 and a 12 month high of $118.69.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. During the same period last year, the firm posted $2.66 earnings per share. The firm’s quarterly revenue was up 69.9% on a year-over-year basis. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Monday, May 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Transactions at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the transaction, the executive vice president now owns 13,691 shares in the company, valued at $1,527,504.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares of the company’s stock, valued at $883,805.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the transaction, the executive vice president now owns 13,691 shares in the company, valued at $1,527,504.87. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock worth $3,215,664 over the last three months. 0.34% of the stock is currently owned by company insiders.

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.