Allworth Financial LP Has $1.84 Million Stock Holdings in Prudential Financial, Inc. $PRU

Allworth Financial LP grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 9.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,090 shares of the financial services provider’s stock after purchasing an additional 1,412 shares during the quarter. Allworth Financial LP’s holdings in Prudential Financial were worth $1,836,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PRU. Meeder Asset Management Inc. lifted its stake in Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after buying an additional 111 shares during the period. AlphaQuest LLC raised its holdings in Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 245 shares during the period. Cheviot Value Management LLC bought a new stake in shares of Prudential Financial in the 1st quarter valued at $26,000. Clearstead Trust LLC raised its stake in Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after buying an additional 207 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new position in Prudential Financial during the first quarter worth about $45,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Morgan Stanley increased their target price on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Wolfe Research started coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Keefe, Bruyette & Woods upped their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $120.73.

Prudential Financial Stock Performance

PRU opened at $107.75 on Friday. The business’s 50-day simple moving average is $103.67 and its 200 day simple moving average is $104.66. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $37.71 billion, a PE ratio of 14.80, a PEG ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%.The firm had revenue of $8.35 billion during the quarter. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s payout ratio is presently 74.18%.

Insider Buying and Selling at Prudential Financial

In other news, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the transaction, the chairman directly owned 165,564 shares in the company, valued at $17,779,917.96. The trade was a 22.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.25% of the company’s stock.

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.