Avantax Advisory Services Inc. Has $2.82 Million Stock Holdings in Prudential Financial, Inc. $PRU

Avantax Advisory Services Inc. lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 17.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,209 shares of the financial services provider’s stock after purchasing an additional 3,805 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Prudential Financial were worth $2,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PRU. Brighton Jones LLC raised its holdings in Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after buying an additional 133 shares in the last quarter. Ignite Planners LLC raised its stake in shares of Prudential Financial by 15.4% in the 1st quarter. Ignite Planners LLC now owns 2,332 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 311 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Prudential Financial by 11.0% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 241,591 shares of the financial services provider’s stock worth $26,981,000 after purchasing an additional 23,956 shares during the last quarter. AE Wealth Management LLC boosted its position in Prudential Financial by 5.0% during the first quarter. AE Wealth Management LLC now owns 164,245 shares of the financial services provider’s stock worth $18,343,000 after purchasing an additional 7,820 shares during the period. Finally, Unison Advisors LLC grew its holdings in Prudential Financial by 1.1% during the first quarter. Unison Advisors LLC now owns 34,730 shares of the financial services provider’s stock valued at $3,879,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

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

Prudential Financial Stock Up 0.5%

Shares of PRU stock opened at $104.12 on Friday. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a fifty day moving average price of $103.49 and a 200 day moving average price of $104.70. The stock has a market cap of $36.44 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The firm had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. Analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be paid a dividend of $1.35 per share. The ex-dividend date is Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a yield of 5.2%. Prudential Financial’s dividend payout ratio (DPR) is currently 74.18%.

Wall Street Analyst Weigh In

PRU has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Prudential Financial in a research note on Wednesday. Wolfe Research assumed coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Barclays lowered their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Finally, Evercore ISI lifted their price target on Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average price target of $120.73.

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.