Prudential Financial, Inc. (NYSE:PRU) Stock Position Increased by Cetera Investment Advisers

Cetera Investment Advisers lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 146.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 147,788 shares of the financial services provider’s stock after buying an additional 87,719 shares during the period. Cetera Investment Advisers’ holdings in Prudential Financial were worth $17,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PRU. Cambridge Trust Co. raised its stake in shares of Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after buying an additional 105 shares in the last quarter. Creekmur Asset Management LLC raised its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after buying an additional 108 shares in the last quarter. Arlington Trust Co LLC raised its stake in shares of Prudential Financial by 151.6% in the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after buying an additional 185 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Prudential Financial in the 1st quarter worth $33,000. Finally, ESL Trust Services LLC acquired a new position in shares of Prudential Financial in the 1st quarter worth $34,000. Institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of Prudential Financial stock in a transaction on Thursday, June 20th. The stock was bought at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Down 10.0 %

PRU traded down $12.23 during trading on Friday, reaching $110.26. 5,436,589 shares of the stock traded hands, compared to its average volume of 1,325,238. The stock has a market cap of $39.58 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 0.95 and a beta of 1.34. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s 50-day simple moving average is $119.53 and its two-hundred day simple moving average is $114.03.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.17%. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. As a group, equities research analysts expect that Prudential Financial, Inc. will post 13.38 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were given a $1.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.72%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of recent research reports. Jefferies Financial Group decreased their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Citigroup lifted their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Morgan Stanley lifted their target price on Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Piper Sandler decreased their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Keefe, Bruyette & Woods lifted their price target on Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $116.92.

Prudential Financial 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.