Benchmark Financial Wealth Advisors LLC Invests $250,000 in Prudential Financial, Inc. (NYSE:PRU)

Benchmark Financial Wealth Advisors LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the 3rd quarter, Holdings Channel reports. The firm purchased 2,065 shares of the financial services provider’s stock, valued at approximately $250,000.

Other large investors also recently made changes to their positions in the company. National Bank of Canada FI lifted its holdings in Prudential Financial by 44.9% during the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after purchasing an additional 71,274 shares during the last quarter. ORG Partners LLC acquired a new stake in Prudential Financial during the 2nd quarter valued at $156,000. Russell Investments Group Ltd. lifted its holdings in Prudential Financial by 25.0% during the 1st quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock valued at $21,171,000 after purchasing an additional 36,159 shares during the last quarter. PGGM Investments lifted its holdings in Prudential Financial by 98.0% during the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after purchasing an additional 31,807 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Prudential Financial by 6.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 406,295 shares of the financial services provider’s stock valued at $47,699,000 after purchasing an additional 25,196 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRU. Morgan Stanley lowered their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company increased their price objective on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Piper Sandler increased their price objective on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen started coverage on Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $123.85.

Prudential Financial Stock Down 0.4 %

Shares of NYSE:PRU opened at $120.18 on Wednesday. The business has a fifty day simple moving average of $121.20 and a 200 day simple moving average of $118.55. Prudential Financial, Inc. has a 12-month low of $89.90 and a 12-month high of $128.52. The firm has a market cap of $42.78 billion, a P/E ratio of 10.68, a P/E/G ratio of 0.86 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

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 analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for 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 firm earned $3.44 earnings per share. Analysts predict that Prudential Financial, Inc. will post 13.32 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.33%. Prudential Financial’s payout ratio is 46.22%.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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.