Cetera Advisors LLC Buys 23,351 Shares of Prudential Financial, Inc. (NYSE:PRU)

Cetera Advisors LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 109.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,671 shares of the financial services provider’s stock after buying an additional 23,351 shares during the period. Cetera Advisors LLC’s holdings in Prudential Financial were worth $5,244,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PRU. Cambridge Trust Co. boosted its position in Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares during the period. Creekmur Asset Management LLC boosted its position in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after buying an additional 108 shares during the period. Arlington Trust Co LLC boosted its position in Prudential Financial by 151.6% during the 4th 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. Crewe Advisors LLC purchased a new stake in Prudential Financial during the 1st quarter valued at $33,000. Finally, ESL Trust Services LLC purchased a new stake in Prudential Financial during the 1st quarter valued at $34,000. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Piper Sandler decreased 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 note on Monday, May 6th. Morgan Stanley increased their price target on shares of Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group decreased their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Citigroup increased their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $116.92.

Prudential Financial Stock Performance

Shares of PRU stock traded down $12.23 during trading hours on Friday, reaching $110.26. The company had a trading volume of 5,436,589 shares, compared to its average volume of 1,325,238. The business has a fifty day moving average price of $119.53 and a 200-day moving average price of $114.03. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The firm has a market cap of $39.58 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 0.95 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.17% and a net margin of 4.86%. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Sell-side analysts predict that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by 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.