FAS Wealth Partners Inc. Has $342,000 Stake in Prudential Financial, Inc. (NYSE:PRU)

FAS Wealth Partners Inc. reduced its position in Prudential Financial, Inc. (NYSE:PRUFree Report) by 28.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,298 shares of the financial services provider’s stock after selling 1,323 shares during the period. FAS Wealth Partners Inc.’s holdings in Prudential Financial were worth $342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRU. Moneta Group Investment Advisors LLC increased its stake in shares of Prudential Financial by 104,987.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,450,633 shares of the financial services provider’s stock valued at $243,740,000 after buying an additional 2,448,301 shares during the period. Norges Bank acquired a new stake in shares of Prudential Financial in the 4th quarter valued at $172,363,000. Cowa LLC increased its stake in shares of Prudential Financial by 9,930.2% in the 1st quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock valued at $912,000 after buying an additional 764,129 shares during the period. Mariner LLC increased its stake in shares of Prudential Financial by 2,197.4% in the 1st quarter. Mariner LLC now owns 690,184 shares of the financial services provider’s stock valued at $81,560,000 after buying an additional 660,142 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Prudential Financial in the 2nd quarter valued at $48,716,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Prudential Financial from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $118.00 price target (down from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Raymond James lowered Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Finally, UBS Group raised their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $105.60.

Read Our Latest Research Report on PRU

Prudential Financial Stock Performance

PRU opened at $116.30 on Wednesday. The business’s 50-day moving average price is $109.35 and its two-hundred day moving average price is $101.61. Prudential Financial, Inc. has a 1 year low of $77.22 and a 1 year high of $117.92. The company has a market capitalization of $41.75 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.85 and a beta of 1.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRUGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. During the same period in the prior year, the business earned $2.42 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts expect that Prudential Financial, Inc. will post 13.4 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were paid a $1.30 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 annualized dividend and a dividend yield of 4.47%. Prudential Financial’s dividend payout ratio (DPR) is currently 77.73%.

Insider Buying and Selling at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction dated 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 directly owns 14,754 shares in the company, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. Insiders have sold 29,255 shares of company stock valued at $3,215,664 in the last 90 days. 0.37% of the stock is currently owned by company insiders.

Prudential Financial Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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