Providence Capital Advisors LLC Boosts Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Providence Capital Advisors LLC boosted its position in Prudential Financial, Inc. (NYSE:PRU) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,782 shares of the financial services provider’s stock after purchasing an additional 105 shares during the period. Providence Capital Advisors LLC’s holdings in Prudential Financial were worth $3,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Kingsview Wealth Management LLC boosted its position in Prudential Financial by 3.5% during the third quarter. Kingsview Wealth Management LLC now owns 7,012 shares of the financial services provider’s stock worth $849,000 after purchasing an additional 237 shares during the period. Larson Financial Group LLC grew its stake in Prudential Financial by 18.0% in the 3rd quarter. Larson Financial Group LLC now owns 715 shares of the financial services provider’s stock valued at $87,000 after buying an additional 109 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Prudential Financial during the third quarter worth $283,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Prudential Financial by 16.2% in the third quarter. Brown Brothers Harriman & Co. now owns 1,408 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 196 shares during the period. Finally, Private Trust Co. NA grew its position in shares of Prudential Financial by 11.3% in the third quarter. Private Trust Co. NA now owns 4,092 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

PRU stock opened at $114.50 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $40.99 billion, a P/E ratio of 15.33, a P/E/G ratio of 0.98 and a beta of 1.28. The firm’s fifty day moving average is $113.27 and its 200 day moving average is $118.95. Prudential Financial, Inc. has a 52 week low of $104.45 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.72%. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. BMO Capital Markets started coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. Barclays upped their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Piper Sandler reduced their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group upped their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $126.15.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now directly owns 139,987 shares of the company’s stock, valued at $3,992,429.24. This represents a 60.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.