Carson Advisory Inc. Has $933,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Carson Advisory Inc. raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,997 shares of the financial services provider’s stock after purchasing an additional 201 shares during the period. Carson Advisory Inc.’s holdings in Prudential Financial were worth $933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cambridge Trust Co. raised its stake in shares of Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Prudential Financial in the fourth quarter valued at approximately $26,000. Headinvest LLC acquired a new position in shares of Prudential Financial in the third quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its holdings in shares of Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after buying an additional 185 shares during the period. Finally, Janiczek Wealth Management LLC boosted its holdings in shares of Prudential Financial by 49.6% in the fourth quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock valued at $39,000 after buying an additional 124 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of PRU traded down $1.01 during trading hours on Thursday, hitting $111.29. The company had a trading volume of 1,798,250 shares, compared to its average volume of 1,528,312. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 0.75 and a beta of 1.35. The business has a fifty day moving average of $112.00 and a 200-day moving average of $104.16. Prudential Financial, Inc. has a 12 month low of $77.22 and a 12 month high of $118.69. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.54% and a net margin of 3.76%. The business had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same period in the prior year, the business posted $2.66 earnings per share. Prudential Financial’s revenue was up 69.9% compared to the same quarter last year. Equities analysts anticipate that Prudential Financial, Inc. will post 13.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 annualized dividend and a dividend yield of 4.67%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s payout ratio is currently 88.44%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PRU shares. Wells Fargo & Company upped their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their target price on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. restated a “neutral” rating and set a $118.00 target price (down previously from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Finally, Evercore ISI increased their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average target price of $111.42.

Insider Activity

In related news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the sale, the senior vice president now owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the transaction, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at $1,595,350.02. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock worth $3,215,664 in the last quarter. 0.31% of the stock is owned by corporate insiders.

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.