Prudential Financial, Inc. (NYSE:PRU) Shares Sold by WESPAC Advisors LLC

WESPAC Advisors LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 5.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,367 shares of the financial services provider’s stock after selling 483 shares during the quarter. WESPAC Advisors LLC’s holdings in Prudential Financial were worth $1,013,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PRU. Annex Advisory Services LLC raised its holdings in shares of Prudential Financial by 3.4% in the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock worth $289,000 after buying an additional 81 shares during the last quarter. Raymond James Trust N.A. raised its stake in Prudential Financial by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after acquiring an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in Prudential Financial by 1.2% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 89 shares during the period. Quotient Wealth Partners LLC grew its stake in Prudential Financial by 3.9% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 92 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its holdings in shares of Prudential Financial by 4.6% in the first quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 94 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Up 1.3 %

PRU stock opened at $127.89 on Friday. Prudential Financial, Inc. has a 52 week low of $94.92 and a 52 week high of $129.13. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a 50-day simple moving average of $123.30 and a 200-day simple moving average of $119.72. The stock has a market capitalization of $45.53 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.90 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the business earned $3.44 EPS. Equities analysts forecast that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.07%. Prudential Financial’s payout ratio is currently 46.22%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Piper Sandler upped their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Morgan Stanley reduced their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. TD Cowen initiated coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target on the stock. Finally, Barclays lifted their price objective on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average target price of $125.69.

Insiders Place Their Bets

In other news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 6.61 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate 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.